The fundamentals point towards a fearful economy for Australia. "Australia's central bank flags chance of further sharp fall in unemployment" was the most recent update after the Monetary Policy Meeting of the Reserve Bank Board. This month, at least, we should be expecting that to be enough confirmation to change bias to short. The United States has had better recent employment figures this month than it did in the previous couple of months. Strong employment vs unemployment, this ones pretty obvious. The technicals shows price rejection from 0.7300 resistance. Price looks to be headed toward 0.7200 support level.
