AUD/USD: I don’t care, I’m staying bearish for now

  • Demand for commodities is easing and prices are falling.
  • Precious metal prices also look to have broken lower.
  • The RBA is likely to cut rates again by 25 bps in June.
  • Technicals can be basically forgotten in sideways, ranging markets.
  • Some of the crosses like EUR/AUD and AUD/NZD look to have turned bearish on the AUD.
  • Same applies to US economy as below; overall improvement but Fed policies are still a drag on the USD.
  • The market is structurally long and I can’t help but feel that 1.04 is simply not the level at which to be long!
  • I’m sticking firmly to my guns here that we will see 95 cents before new highs at 1.11.
  1. Good evening Sean

    It was quiet Asian session. Yesterday we were unlucky on USD/CHF. It’s hard life to build a position on this cross. The positive sign is that I learn 😉

  2. Morning Papillon, I’m looking at eurusd resistance 13200 and eurchf support 12200, which could coincide with usdchf trendline suppt at 9240. If all those levels break then I’m getting out and looking elsewhere for trades

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