EVN Charts, page-26

No doubt AUD is critical from a FA perspective and ultimatevaluation. However, i am talking about pure ST sentiment. The short term sentiment is vital even if you are investing and not trading as it will enable one to enter at a good price and then when the SP values EVN according to the more appropriate AUD POG, then you will benefit more. So yes, i do not dispute the ultimate valuation is dependant on AUD POG as this is what enhances EVN's bottom line. However, true value is not always what drives the SP in the ST - the fluctuations are dependant on sentiment. The sentiment is often driven by POG. If you place a POG AUD and USD chart next to EVN, you will see they eventual reflect AUD POG value, however the ST moves are more reflective when USD POG moves.