AUD,NZD/Flows and Orders/FXWW News

AUD: Heavy short-covering taking place

Reports of heavy AUD short-covering against the USD, JPY and CHF. A lot of traders have been selling AUD at the wrong levels and that can lead to really nasty stop-loss driven spikes. Look for .9240 to cap any further session rallies in the AUD/USD but buying dips definitely now preferred.

  1. Hi Sean good day, currently close half of AUDUSD position, still plan consider buy dips, but which level would you consider? Short-term support seen like at 0.914 and this morning low 0.908, or are u looking lower? thanks

  2. noted,thanks!! but for you would consider short cable from 1.501, the previous double bottom
    resistance?? although I’m know you r bullish on cable, but the chart it seen very attach to me.

  3. Fair call I think Jack, if level is tested and holds first attempt then maybe sell with tight stop? I’m sure there are still a lot like me who were long from higher up and maybe didn’t stop out through 15100 and will be keen to sell rallies now?

  4. You are a legend Sean. I didn’t fully trust this rally. I sold a bit of AUDUSD but kept selling EURAUD. I have a mixed bag but the good news is that I sell more EURAUD than AUDUSD 🙂

  5. Nice Lam-Son, as long as it works our profitably that’s the main thing. Just a glance at daily AUD/USD shows how far its come so retracements are just normal part of trading

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