Recently we've seen a pull back on both currencies and I have been consistent with the message that any genuine pull back should be considered as a buying opportunity. That view has not changed and with the US Fed now most likely to maintain its stimulus program at the least through until February, now may be the last opportunity for you to catch the lows on both currencies before a potential rally until the end of the year.
Tomorrow we will likely see some volatility on the Aussie with the latest RBA minutes due for release. The minutes will tell us what the RBA was discussing at its last monthly meeting at the beginning of November but the minutes are not an opinion statement as such, they are simply a summary of what was discussed. It won't surprise me to see the Aussie drop on the minutes and this would provide further opportunity for bargain hunters.
The reason why I am bullish on the Aussie until the end of the year is simply because it would take some really negative international news to move it much lower than its current levels and I am struggling to see where that threat may come from. Of course there is always the unexpected but as traders we need to work with probability.
+Andrew Barnett sends his LTG GoldRock Reviews in the Daily GoldRock Insider Report to over 3500+ Forex Students.
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