AUD,NZD/FXWW News/Trade Ideas

AUD/USD jumps to .9050 on China trade data

I’ve added to my long position and I expect short covering to now pick up steam. The sharp increase in both imports and exports will encourage many that the global economy isn’t as sick as they had feared and should benefit risk trades like the AUD.

If short-covering really accelerates, then I think we could see levels near .9200 later today.

  1. 92? I like the sound of that. Glad to see my A/J & A/U (from earlier this week post RBA rate cut) has gone from red to green.

    I would be happy for AUD to hold the current levels for the rest of this week for a push to 92 next week. Hopefully the BOJ don’t bugger up my A/J long.

  2. hahah 😀

    My life long disrespect for following figures of authority and doing what everyone else is doing has landed me in hot water a few times….with this attitude I’m definately not cut out for climbing the corporate ladder. Too bad I’m still stuck behind the 9-5 desk….for now. HAHA

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