AUD,NZD/FXWW News/Technical Analysis/Trade Ideas

AUD/USD outlook November 25th

  • Another speech from the RBA deputy-Governor later tonight so we can expect more verbal intervention;
  • Crosses like GBP/AUD have made significant bullish breaks and more AUD weakness is likely;
  • Real-money funds and option players are chasing this move lower as they adjust hedges;
  • There is some technical support (76.4% retracement) near .9060 but momentum is definitely bearish;
  • Initial resistance is now at .9225/50;
  • Play these edges with a bearish bias given the strong move in the crosses.

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