Well I went to bed this morning after the aussie dropped a full...

Well I went to bed this morning after the aussie dropped a full 2 cents overnight, and woke to the news that the aussie continued its drop against the US to almost 4 cents in all in 24 hours!

That by any measure is a huge correction and although the US strenghtened against all other currencies and no doubt the aussie was reacting to that, the large upward movement in the aussie prior to the correction in such a short period of time must have played its part.

What goes UP must come down, or so the saying goes.

The question now is; does the market see the aussie as oversold?

Given the fundamentles and the sentiment, we may be about to see a lift in the price back toward the .70 mark short term.

We could see some further movement down however on its journey north, so be prepared.

Longer term, I remain bullish on the aussie as I have been for some time now and I still see .75 sometime aerly in the new year.

Perhaps my prediction of .70 at Xmas will come true after all.

Good luck all.

btw Has anyone here any idea of how to cut and paste the Reuters news stories that can be found on IGMarkets?

I have tried to do it but have been unsuccesful. Perhaps they have designed it that way?