AUD/USD: Drifting as local interbank players prefer shorts intraday

No-one is expecting any major moves in the AUD today but local dealers seem to prefer the short side, particularly when prices get close to reportedly decent sized sell orders at 1.0460/65. It’s possible we could drift further towards 1.0400 but ranges are expected to remain tight during the Asian session.

There are some risk-events looming for the AUD, with the HSBC China PMI data due out over the weekend and official PMI on Monday, when much of Asia will be closed. This will of course be followed by the RBA on Tuesday with the market spilt 50:50 on whether the expected rate cuts start in October or November.

  1. Hi Nachiket, overall I like the sell rally play but not 100% sure on levels. If breaks above 10470 I’d probably cut and try selling again 10510. If this 10460 level holds for few hours then cud try adding but I’d wait and see how it develops

  2. hehehe. looks like even you are confused now by this aussie’s move. I really got confused when euro rallied yesterday on spain budget news. weird news to rally.

  3. Hi Sean, the aussi certainly doesn’t want to go down does it (wish my shares were as good). Just a heads up, another site I look at has a sell A/U 10480, stop 10535, tgt 10300 but the way it is powering up has me thinking it may not stop there, any ideas?

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