AUD,NZD/Flows and Orders/FXWW News/Technical Analysis/Trade Ideas

AUD/USD: Looking to trade .9550/.9715 in coming sessions

  • USD bears in complete control again;
  • Risk trades got a boost as ‘tapering’ liklihood reduced;
  • Real money funds driving the USD selling;
  • AUD/JPY resistance at 94.45/65 still relevant and increasingly important;
  • AUD/NZD support still holding and EUR/AUD still in downtrend, but oversold;
  • RBA Governor speaking publicly today and he may use the opportunity to try and talk the AUD down.

Buying dips is the preferred strategy as we aim at a 50% retracement level near .9715.

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