AUD/USD: Decent bids holding for now but interbank dealers still bearish
The local interbank dealers are uniformly bearish on AUD/USD this morning and say it’s only a matter of hours before we see an 88 handle on it. There has been one decent buyer this morning between .8925/50, buying clips of 50/100 every 5 pips, and they have managed to hold it up so far.
morning Sean,
Any bids during early Asian session should be an opportunity to sell in my opinion.
I thought that the 0.9 level should have been tested and rejected once again last night and the 3rd attempt to break it would be successful sometime in future. But it was not the case. If the consolidation below .93 in the past few weeks is a correct bearish channel flag, then we might have another 10 big figure fall from .93 -> 0.83 level???
That’s what interbank guys are saying as well Danny. I have no strong view really at this level
You made a good call on putting trailing stop at 9125.food for thought that if the chinese pmi comes in lower we will see 88 and rangy till rba interest rate announcement.not seeing aud going up just yet.trade ranges would be ideal and perhaps a bid after the announcement.
Just took a shorty in aud/jpy. Stop above tonights high
I am short from .9060 from tuesday, when Stevens spoke. But have tricky feeling actual rate cut on Aug 6th, will help aud…
scratching my head (actually made a hole in it) – divergence between official china pmi and hsbc’s one… one of them shud be lying
Really Maxa, if you can’t believe Chinese economic data, what can you believe 🙂
Propoganda rules the world ))
All set for a weekly close below 90cents for my awful long trade,really hoping the NFP’s are anti-dollar.That is life in the Markets anyway.Win some,lose some.
Banya, indeed true. It is zero-sum game