What's going on with the AUD/USD?

On the daily chart, the AUD/USD continues to move between the 20-day Simple Moving Average (SMA) and the 55-day SMA (0.6505). The 0.6400 level has become a relevant support, and a consolidation below it should bring further weakness to the Aussie, exposing the 20-day SMA at 0.6360.

Is AUD/NZD bias skewed to the downside?

Unlike the aforementioned Aussie crosses, AUD/ NZD bias appears to remain skewed to the downside. Following a break of the head and shoulders formation in early July, the pair has continued to move lower. The pair has traded lower along the trendline of the right shoulder and has appeared to finally consolidate around 1.040.

What is the correlation between AUDUSD and gold?

This correlation with the Shanghai stock exchange is to be added to the correlation it has with gold. The pair AUDUSD often rises and falls along with the price of gold. In the financial world, gold is viewed as a safe haven against inflation and it is one of the most traded commodities.

Why is the Aud a gross measure of market activity?

It is a gross measure of market activity because it indicates the pace at which a country's economy is growing or decreasing. Generally speaking, a high reading or a better than expected number is seen as positive for the AUD, while a low reading is negative.