AUD,NZD/Flows and Orders

AUD starting to get hit as flows intensify

AUD/USD steadied around 1.0420 for a few minutes after the RBA but the selling pressure is now intensifying and the squawk boxes getting louder. Fresh lows have just been seen near 1.0400 and the danger is to the downside with the market sitting quite long.

  1. I’m lucky and shorted around 10440 but whats a good target? No plan for this trade but just felt it would go downwards. An emotional trade but i’m being lucky right now…but there seems more downside and up for now.

    I think EUR/AUD will be shooting up again.

  2. They are often the good ones Marco. I’d say leave tight trailing stops above today’s highs and see what happens, you might get lucky and it keeps going. I’m guessing there will be large trailing stops somewhere on downside? Just gotta figure out where??

  3. Sean i’m almost sure that we are not in risk aversion market? i’m still keeping my long term AUD/JPY from 88.5, EUR/USD since 1.3125, although my AUD/USD position at loss since i bought it for Chinese trade balance in January at 1.05, i almost gave up to take loss but cancel it after no cut rates from RBA, even from statement i see not much surprise although in my personal view i am surprise why RBA pretty much different with RBNZ about global outlook 🙁

    what worry me is why traders are intensifying bearish call for AUD through AUD/USD & EUR/AUD but AUD/JPY not affected much by bearishness in AUD/USD? i know that market in favor of USD/JPY but at least i find this fact (divergence between AUD/USD & AUD/JPY) unacceptable at the moment (for me).

    i’m still in favor of AUD/USD although i may lost this eventually, for now i keep holding

  4. I’ve been in the market too long Dok, I got used to seeing the AUD below 80 cents and have seen it below 50 cents so levels at 105 are pretty hard to justify. The AUD really needs everything in its favour to justify these levels and I just don’t see it that way at the moment. But I’ve been wrong before 🙂

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