AUD drifting lower again in fairly subdued trade

Firstly we saw the NZD fall after a low CPI number, then the CHF fell as EUR/CHF triggered some barriers and now the AUD is drifting lower as the market digests the Chinese economic data.

Cable support is still holding but it does look heavy and EUR/CHF should trade around 1.2500 for the remaining of the session as option players do their thing.

  1. hi, what do you think about a gbpjpy buy?.. considering that yen is likely to weaken coming sessions and there will be strong cable buying as you said.

  2. Sean, do you think it’s temporary setback for AUD/USD? i hope (and hopefully you are hoping the same thing) that we’ll breach 1.06 sooner than later! 😀

  3. Hi Dok, 10450/10600 looks like range to me. Despite all bad domestic data the AUD can’t really fall so I guess it must be going up? Must admit I cannot get bullish at 105

  4. Hi Maji, really not sure if GBP buy emerges as lots of rumours of big buyers and big stops as well. Trend still up in GBP/JPY but I certainly wouldn’t start chasing it higher from here. Too risky imho

  5. This pair has become boring of late. Hopefully it can break out of range and push higher. Hope you have a nice weekend Sean.

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