AUD,NZD

AUD jumps on more short-covering

I suspect that stops in AUD/JPY were targeted above 80.00 but whatever the reason, the interbank dealers had the right idea. Both AUD/USD and AUD/JPY have now taken out overnight highs and there could be more of the same to come.

  1. My stop on this one is 80.25. I think both AUD/USD and AUD/JPY are now at somewhere with a bit of supply. See how it goes in the next hour.

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