AUD,NZD/Flows and Orders/FXWW News/Trade Ideas

AUD: No surprises expected from RBA minutes

I got stopped out of my AUD/USD longs at break-even and am still running a much smaller AUD/JPY long with a stop below 90.00. The big risk event for AUD traders will be the release of the RBA minutes from the June meeting, when no change was made to official interest rate policy.

I’m not expecting any surprises but the market is nervous and prone to sharp spikes either way. Sentiment remains very AUD-bearish but AUD short-positioning is nearing extreme levels. The levels to watch in the AUD/USD are a pretty wide .9430/.9630 and we could well see prices near either/both edge(s) in coming sessions.

  1. In regards to aud/jpy..If you draw a trend line from 93.72 to 92.40 and past its a pretty good downtrend line…then if you draw a trend line from the low of 88.90 and up to 90.05 we have a somewhat of a triangle Measured move of some 475 pips. may be worth a look. may be wrong.

  2. you’re welcome. btw i got stopped out of my aud/jpy short last week when i got in at 92.45. i got stopped at 91.35. had a nice 250 pip gain overall last week. just thought i would update you on that.

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