AUD,NZD/Flows and Orders

AUD staying heavy but still rangebound

I think its probably safe to say that 100% of the professional traders I speak with are bearish the AUD which is no great surprise as everyone is getting the same information; macros selling AUD/NZD, Hedge Funds selling AUD/USD and a market which is overall very long. But we’ve seen plenty of markets like this before where prices can simply go sideways if real demand is strong enough to weigh out the speculative market.

Stops below 1.0350 are still safe but surely only a matter of time before they are done but asset managers expected not far below there.

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