AUD outlook: Positioning now neutral
- Most interbank reports suggest that macro AUD positioning is now back at close to neutral levels;
- AUD/USD technical resistance at .9510 (38.2% 1.0580/.8850) confirmed;
- EUR/AUD technical resistance at 1.4450 (double-top neckline) confirmed;
I’d look to play a .9225/.9525 range in AUD/USD over the coming week and I think it’s possible that we will see either end. The crosses are likely to throw up some good 100/150 pip trade opportunities (like EUR/AUD did yesterday) so be patient and attentive there.