For many weeks I’ve been saying: This market won’t start to drop until we see the Ozzie Dollar start to weaken. The Ozzie Dollar is now range trading between about 90 Cents and 93 Cents. A decisive break from the current range should see a similar move in the stock market. The following chart is a bit “messy”, but shows the major consolidations of the Ozzie, the Rising Wedge and Moving Averages. A decisive drop below 90 Cents would be bearish for the stock market.
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