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Aussie Bracing for the Bear: Expect A Downward Spiral Versus The USD IF Support Fails To Hold

The Aussie ended the week amongst the biggest losers against the USD and things may be about to get even worse if the Aussie does not hold support. The backdrop for the Australian Dollar is also negative, as Chinese Equities continue to slide as Economic and Geopolitical woes persist. A ‘bazooka’ of stimulus out of China may spare the Aussie and EM currencies but it seems that China cannot fire a big enough ‘shot’ to turn things around. Time will tell.