A quickie on the AUD/USD, target level for shorts

Rabobank on the Australian dollar, say that:

• AUDUSD remains firmly within the downtrend that has persisted since late January
• In our view the move has further to go
• We maintain our forecast that AUDUSD is likely to be trading around the 0.70 area by the middle of next year
• and see downside risk to this view

Huh. More like the middle of this afternoon at the rate its dropping …

:-D