Yesterday delivered a terrible blow to the US dollar. Extremely worse than expected ISM Manufacturing numbers caused the greenback to collapse across the board. It is very likely that the trend will continue.
Bank of Australia left interest rates unchanged and this gives hope that the aussie will regain its' strength and change the intermediate trend from downwards to upwards. Today we have Australia's Gross domestic product numbers coming out at 01:30 GMT and if they are good this will spike a rally in most aussie crosses as well as in aud/usd.
Although aud/usd retraced today, it still looks bullish and ready to advance. I can see technical accumulation taking place. Let us wait and see what GDP number come out. See you tomorrow.
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