USD iis falling
Peter Navarro is on CNBC trying to explain away the tariffs and process and the USD is not really liking it.
The dollar has stepped lower and that includes the AUDUSD (see chart above).
That pair is pushing back toward the highs for the week that come in at 0.6935, 0.6936 and 0.6938. The high just moved to 0.69322. There are a lot of swing highs in the 0.6932 to 0.6938 area. We are testing that area now.
The pair seemed to get a boost on the move above the 100 hour MA at 0.6919 (blue line). The lows today stalled near the 50% of the move up from last week's low.
The AUDUSD is conflicted by "risk off" flows and China trade fears and dollar selling flows at other times. Yields in the US continue to fall. Stocks are under pressure. Key test of the ceiling area now.
