AUD,NZD/FXWW News/Technical Analysis/Trade Ideas

AUD/USD: Adding to longs at .9075

  • AUD/JPY support at 88.70 has broken but there has been no significant follow through.
  • EUR/AUD has rallied over 250 pips since yesterday and is nearing resistance levels at 1.4740/50.
  • The break-up acceleration level in AUD/USD was at .9050 and that level should provide solid support.

I reduced my longs last week at .9200 and am happy to re-buy partially at .9075. If it breaks below .8950 then I’m well-and-truly wrong.

Edit: USD/INR is making fresh highs and the continued panic in EMs is affecting AUD sentiment. AUD/USD trading near reported Sovereign bids at .9050.

  1. No real bounce is a concern here Sean …. given the now neutral tone by RBA – AUD should not be this weak I think. Buyers at .9050 been filled – and market not displaying any intraday short tendency – London may wake up to be sellers.

    Next decent chart support is 0.8995-00 (and fibo 61.8 retrace level)

  2. It’s surely looking to retest 0.90 with the current souring of sentiment. Another factor is also euraud surging ahead after 1.4450 held what with the better sentiment and data coming out of eurozone. IF there is another data or tape bomb from now relatively quiet (or covered?) eurozone brittle ground, we could see euraud back below 1.4 and audusd back to 96? Your views Sean?

  3. Market was bullish yesterday at 9225 and bearish today at .9050. I know the EM move is important but honestly I think this is noise 90/93 so still feel we should trade edges

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