AUSUSD WEAKNESS and RISK OFF GROWS.

With last week's move continuing this week, the call of the past few weeks for further upside is definitely looking wrong.

Some charts which highlight the turn towards the Risk-Off and some key points. - Followed by interesting price action on the SP500 and VIX.

First however last week's Aussie PMI was very nasty, the chart below shows this and the AUDUSD, and with risk-off gathering pace, including gold breaking a serious trendline(See below) the prospects for the AUDUSD look decidedly gloomy. 

Also interesting action on the Daily SP500: - A 'Head & Shoulders Top' pattern on the SP500 daily, with an inverted Head & Shoulders on the VIX highlighting the risk of a sharp move growing.