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.