AUD,NZD/FXWW News/Trade Ideas

AUD: Looking to book some profit on intraday rallies ahead of risk events

  • Plenty of risk events later today so I’m looking to reduce my AUD/JPY long position on any rallies towards 89.75;
  • AUD/USD is in short-term holding pattern .8960/.9015 but the big levels to watch are still .8890/.9070;
  • Bit surprising that AUD/NZD edged lower despite a stronger AUD everywhere else;
  • EUR/AUD could test lower end of consolidation range towards 1.4350 now that we’ve had daily close below 1.4750 pivot;
  • RBA widely expected to stay on hold and keep language unchanged;
  • Retail sales and China non-mfg PMI might add some volatility.

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