AUD still in free-fall

  • AUD/USD looks set to test important weekly support at .9390.
  • EUR/AUD and GBP/AUD are well above their break-up levels from this morning and neither pair is showing any signs of tiredness.
  • AUD/NZD is below 1.1950 but is lacking momentum so more sideways trading is favoured here.

Remember that most ‘silly’ extremes seem to happen during Asian trade and we don’t know they were extremes until weeks later.

  1. Hi Sean,

    1.64 looks like heavy resistance in GBP/AUD on the longer term charts. I feel a bit uncomfortable going long AUD, but perhaps building a small short position for a retracement back to 1.60? Definitely looks overbought.

  2. It seems someone keep selling AUDUSD without any tired feeling…….I have to stay aside to avoid catch the train in the wrong direction……

  3. Almost like the yen free fall early this year. Maybe best to stand aside for now. The market always seems more extreme than I could imagine.

  4. Hi Milan, same as EUR/AUD I think, won’t see vertical retracement more likely rangey consolidation so tick a ‘silly’ offer in well above the mkt and then book profits on dips. That’s how I would play it

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