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Mohammed Abdullah

AUD/USD

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It does seem to be that way Mohammed and the AUD has been selling off quite heavily as of late due to a few factors (China, Fires, Possible rate cut etc).

There is definitely a flag forming. However, you may want to be wary selling right now. There is an Aussie interest rate decision due tonight with traders and investors pricing in about 50% chance of a rate cut. So the direction of the AUD in the short term all hinges on the rate decision tonight. It may be a case of holding off here and waiting for another entry point, regardless of which way the decision goes.

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