Preferred Strategy: The Aud reached a high of 0.7808 on Wednesday but is now back below 0.7800 and appears set to remain rangebound again today although the local data may cause some minor volatility (Home Loan/Consumer Confidence). The short term momentum indicators are mildly positive, but with the dailies still pointing lower, selling rallies still appears to be the plan.
Economic data highlights will include:
WBC Consumer Confidence, Home Loans, Investment Lending for Homes, China Foreign Direct Investment
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