RBA Monetary Policy Statement indicates weak fundamentals. Consider the following:
- Slowing growth in China
- weak commodity prices
- declining investment spending in resources sector
- weak labor markets and growing unemployment
- declining wage growth
- strong fundamentals out of the US

Plus a developing head and shoulders pattern on the 4-hr charts.

Target: 0.9050

(I am not a big writer, but the blog asks me to post at least 100 words in order to be able to publish. So, am going to use this as a filler to get to the word limit. I find it easier to summarize the big picture using bullet points as above. Good luck!)
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