CCY Corner: Validated Market Call AUDCNH

Aussie Dollar v. Chinese Renminbi

This chart looks quite familiar right?

From our previous post last March 07, 2016; it has now been validated and proven to have been overlooked even by a few of our constituents that now realized the importance of turning a speculative trade into a serious investment position strategy. Nonetheless here is a brief description. Current price of the AUDCNH as of April 15, 2016 is @5.005 from the base break out @4.8571 position on the way higher.

The fundamental correlation of the Aussie Dollar with that of the Chinese economy is quite relevant  as China have indeed slowed down likewise with a few mix yet, good reports have provided some price volatility in the AUDCNH Cross rates.

However, to some degree there is still the future outlook seems to have some light at the end of the tunnel to our assessment. And this is based on both how prices have played out since the 7th of March on the AUDCNH as shown on the chart and market call that we have made.

Click on the chart of AUDCNH.

A reverse call from a short to a long AUDCNH on the way up have been placed @4.8570 price break higher. Where the initial curve that has served as a basin for technical support was designated to have a substantial market potential nearest to the 5.000 levels. As this price would serve as the highest probable objective then and now has come to a fruition at the closing of this week ending the 15th of April 2016. Click to continue