The parabolic moves on USD/CNH has seen AUD and Asian currencies in general come under pressure. So, with its break to a fresh 11-month high today, AUD/USD is back under the spotlight for a move lower. Last month USD/CNH endured its second most bullish (and volatile) month on record and its ascent has continued into July. If this were any other chart, we could argue a deep correction could be approaching due to the general lack of mean reversion. But, as China is allowing their currency to devalue in response to a trade war with the US, these are not normal circumstances where mean reversion is concerned. Since the ... (full story)