AUD,NZD/Flows and Orders

AUD/USD: Reserve managers now likely to raise their bids

Reserve managers had been sitting on the bid just below 1.0300 but with only the AUD delivering some yield in an otherwise 0% world, we can expect bids to be raised to 1.0350 at least.

Bears like myself are getting squeezed and it looks like a cover-on-dips play from here.

  1. Am counting on the offers around 1.04050 area(are they still in place?)The fib level around 1.0441 is worrying though.It might head there soon.Not yet made an entry…grrr!

  2. sean,

    i will rebuild on my longs I think i will get trapped that side as well bcoz US elections can throw in any result. if romney wins who knows what will happen

  3. Beware AUD, the teflon currency as Sean calls it. I was long before the RBA, but chickened out just before the decision. Now long again. Expect a break of the Fibo at 1.0448 today, and a test of the weekly TL near 1.06 in the next few days. If Obama / Bernanke win the election, the test of 1.06 is even more likely.

  4. Could not agree more with Zen….healthy Chinese data,,,outcutting expectations of any further rate cut by RBA in near future is a prefect recipe for testing 1.06 in not so distant future 🙂

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