AUD,NZD/Flows and Orders/FXWW News

AUD/USD: Importers forced to sell on break below .9100

Whilst much of the selling has undoubtedly been speculator-driven, one of the local banks just contacted me (after reading what I wrote earlier) and are reporting that Australian importers have been forced to chase the market lower and have been selling in size on the break below .9100. Was the break below 91 cents the straw that broke the camel’s back?

By the way, here’s a link to the SMH reporting of Steven’s earlier comments.

  1. Interesting Kamran, slightly imperfect but sticking a bid in at .9540 with a stop below .9480 certainly looks like a reasonable risk-reward play??

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