AUD,NZD/FXWW News/Trade Ideas

AUD/USD: Big day of data; one good piece will start short-covering binge

  • It’s a big day of data with Australian jobs, Chinese trade, and of course the BOJ rate decision.
  • The market is very short of AUD across the board, more so again after the bearish break yesterday in AUD/JPY.
  • We’ve already seen JPY longs get targeted in thinning holiday markets, and it will only take one piece of good data to send the massive AUD shorts scurrying.
  • Longs in play with stop below .8910, looking to add above .9040.

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