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

AUD/USD: Fibo retracement at .9060 providing technical support

  • End-of-month flows expected to be AUD/USD positive;
  • Fibo support at .9060 (see chart) providing technical support;
  • Flows in the crosses are overwhelmingly AUD negative with possible exception of AUD/JPY.

More of the same likely in coming days, with the AUD set to lose more ground on the crosses and especially against the GBP. I’d be wary of getting overly short AUD/USD at current levels but a break below .9050 should open up fresh space for further losses.

  1. Morning Sean, i had a question about eur/usd, will we broke 1.36, and although ultimatly i see it going down, do u think we will be testing 1.365 and 1.37 in the near future? As for usd/jpy, if you get in front of a Bull, u’ll get his horns! Got to be crazy to cross over that rairoad track, i’m just happy I stopped trading when i emailed u last, cause this pair has shot up from then. I am asking regarding the eur/usd because i am thinking about doing a long term short trade for this pair eventually, as i can see it going to 1.28 and below in 2014, if its not a wise idea let me know….thanks

    1. Hi Abdullah, overall I’m more bearish on USD than I am on EUR but I do expect the EUR to fall heavily against the GBP for example. Not sure what this means for EUR/USD, probably more range trading 134/141 is range I’m looking at. As for USD/JPY, who knows, wait patiently for the big opportunity and grab it hard when it comes. I’m still angling to sell it but it could easily go to 110 first so I’m staying out until I’m sure of my levels

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