AUD,NZD/Trade Ideas

AUD/NZD breaks below 1.2000

Some of the big crosses are also on the move with AUD/NZD breaking below 1.2000, AUD/JPY taking out 101.00 again and EUR/AUD re-testing 1.2850.

The only reason to buy AUD at the moment is to take profit on existing shorts and I see no reason to consider going long the AUD against any of the other majors. I’m sticking with my long EUR/AUD trade and hope that we will see 1.30+ in coming sessions.

  1. Good evening Sean,

    Well done Sean, you have good prospect on EUR/AUD with this rates cut 😉 . From side, I am still long on USD/CHF and I am waiting on EUR/JPY. Otherwise, what do you think this trade idea : Sell rallies on AUD/USD at 1.0220/30 with stops above 1.0255 ?

  2. Yeah that shud be a good day trade Papillon but dont leave o/n orders, if its still at these levels in early NY then we will see a short squeeze which cud reach yur stop level

  3. I am sticking with my aud/nzd long, hedged by short gbp/jpy)))) In a sence I think any truly pronounced Aud weakness should put a nail in short term usd/jpy coffin… No major conviction here, but will trade around this theme by bying dips in aud/nzd and selling rallies in gbp/jpy.

  4. Thanks Sean, I am keeping in mind possibility of 1.15 in aud/nzd, so nothing crazy. But given recent straight fall, buy the news seems reasonable trade attempt.

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