AUD,NZD/FXWW News/Technical Analysis

AUD/USD: Look for .9330 test today

I will look to book some interim profit at .9330, which has been a very important pivot (see chart) in the recent past. The broader market is still bearish AUD so I’m sure the bears will re-group at this big level. Even if it does break I’m sure I will get plenty of dips to re-buy on, but as always let’s see how the market develops before committing 100% to any particular strategy.

The break higher in precious metals is an important event and it will have major implications for the USD in particular. Good luck today.

  1. Hey Seán,
    Have you any opinion on WTI oil? Or do you keep an eye on commodities?
    To my rookie eye it looks shaky and ready to drop back to the tonne at least … Any words of warning before I sell and hope the arse falls out of it??

    1. Okay, Thanks anyway! I’m going short… the risk:reward is good enough from me.
      I met a very smart fella in Dublin at the weekend who is also bullish gold, so much so he is personally buying physical gold. He’s a total doomsday merchant though! Where do you think would be a safe place to put a stop on a long gold trade? Might start to build up a small position! 😉

  2. Some research I read recently from Citi Bank suggested that Gold producers will pack and and quit if price falls below $1200 so I’m guessing that’s the base. I’d agree with the smart Jackeen that physical is way to go; futures mkt also stuffed up in all commods.

  3. He’s actually a Limerick man. The cute whore saw the credit crisis coming and made enough out of that to retire at 34!
    Anyway I’m happy to go with that base!
    Thanks Seán!

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