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Chart of the Day – AUDUSD – (July 9th 2019)

The AUDUSD has been under pressure the last week after reversing from the 2018-19 trend line (blue) but is coming to a confluence of support.

Chart of the Day -AUDUSD- (May 14th 2019)

The AUDUSD has broken out of a bearish wedge and also has a bearish pennant that is trying to play out.

Chart of the Day -AUDUSD – (April 8th 2019)

The AUDUSD has been in a tight consolidation for the last 5 weeks, but we are now at the triangle resistance.

The dynamics of the USD, Gold and CNH

During the past few years there has been a good correlation between the Gold and CNH. The Chinese Yuan has been a good proxy for US Dollar relative performance and risk on / risk off flows. As the Dollar strengthens, USDCNH naturally rises and vice versa.