AUD: Not a good day to be short me-thinks

Again, I’m talking my position, but I would not be at all surprised to see AUD/JPY back near 92.00 and AUD/USD near .9700 before the day is out. Everyone is bearish AUD it seems but the big selling interest has now dried up and remember that pretty much everyone was bullish at 1.05. Sometimes the market is simply trading at the ‘wrong’ levels and that’s the feeling I’m getting today.

  1. Thanks again for your insight Sean. Though I notice FXWW303 doesn’t share the outlook at the moment (short AUDUSD at 0.9602). With liquidation in ASX exposures from offshore now over (or at least stepping back) I also expect AUD to move back towards parity.

  2. I see he’s just chopped his for tiny loss so maybe he’s coming around to my way of thinking 🙂 Momentum has dropped away but direction still upwards in my very biased opinion

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