AUD/USD: The Australian Dollar has sunk once again as reports increase over the likely hood of an interest rate cut as early as next week. The sudden cut by the Bank of Canada last week and now the RBNZ’s comments of yesterday morning have outweighed the recent string of positive domestic data, although the pickup in the US jobs situation hasn’t helped the Aussie either. The Producer Price Index number is due this morning and expected to again be better than last months. That and the upcoming weekend should mean that this huge run lower should show some signs of a reversal and importers may be lucky to get another 50 points out of the bounce that is actually all-ready occurring. Exporters, there’s no need to wait any more. Technically we see support here as well being the 50% retracement of the 10 year rally from 0.4730 of 2001 to 1.1090 in 2011.Federal Reserve’s FOMC meet and any comments from them on the timing of their first interest rate hike. Our target for any continued rally is 140 points higher, being the 50% retracement of the selloff seen since the middle of the month. Support should hold at the recent lows, until the Fed meet at least.