The Aussie Dollar took a hit late in the week, after Westpac Bank commented about a interest rate cut before Christmas. Although the comment itself was pretty lame (who really cares what the banks think, no one trusts them anyway) the effect was instant and sizeable and caused some technical damage to short term charts below. (All charts 6hr)
AUD/USD – lost about 100 pips and didn’t recover with the late ramp on SP500. 1.08 level was a brick wall.
AUD/JPY – knocking on the door below, even had a peek inside earlier in the week.
AUD/CHF – a new low too.
AUD/CAD – had been holding its own here for a couple of months but lost 150 pips Friday. Makes CAD look good compared to the others.
AUD/GBP – a failed breakout.
AUD/NZD – when the Aussie starts falling against the kiwi then questions need to be asked.