The Aussie dollar gave me a big heart attack today. The AUD nose dived against SGD by at least 1000 basis points from yesterday. My phone was flooded with calls from investors who are on SGD loan. They were all concerned about banks asking for ‘top-ups’.

My advice is first calm yourself down. If you have some spare cash, buy some AUD. If you are asked for top-up, take it as a sum of money tucked away for fixed deposit (interest rate is still pretty good). Given the financial turmoil, lots of ‘technical analysis’ went beyond logical explanation. Supports and resistance may no longer be effective indicators right now. Brace yourself and see the ‘opportunities’ availabe instead of focusing on what went wrong.

It will take a while before the market ‘decides its direction’. I would have posted the 1hr AUD/SGD candle if I have access to it. You will see the the ‘dramatic dive’. In any case, property is a long term investment, so to all Aussie property investors - don’t panic and stay cool…I’ll be buying more AUD if the rate stablizes tomorrow.