idea on a chart
We have a great chart where price could go.One of the biggest reasons the euro has been rallying against the Australian dollar is due to the fact that the Chinese economy has been so sluggish. The Australian economy is highly levered to what’s going on in China, as a huge portion of the commodities in Australia ended up on the Chinese mainland. As long as the Chinese economy is sluggish, it does make a certain amount of sense that the Australian dollar will fall. At this point in time, the 2 economies are so interlocked that it’s essentially a proxy for Chinese economic performance.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.