The $A has endured a tough 2022 initially not embracing surging commodity prices unlike its fellow resource-facing currency The “Looney” Canadian Dollar but unfortunately, it has slipped lower as both the $US firmed and resources fell i.e. it embraced all the bad news while ignoring the good, never a good sign for any market. However short-term we believe the Aussie looks on course to bounce towards the 72c area in line with the general recovery in risk across equities.
MM is looking for the $A to bounce towards the 72c area
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