AUD,NZD/Flows and Orders

AUD/USD: Sad days when market is excited by a 20 pip move

The AUD/USD has been stuck in neutral for the last few weeks and it doesn’t take much to get the market excited now. Some modest corporate buying and decent buying flows in the NZD/USD have helped swing short-term momentum for the Aussie; its now at 1.0540 after opening at 1.0515.

  1. Yeah, the AUD has become a really dead pair. On the long term charts, it has been in a slowly compressing triangle between 1.06 – 1.02, which has now narrowed t o1.06-1.04. Daily ATR which used to be ~100 is now down near the 50 level, and many days we get only 20-40 pips movement. I have stopped trading this pair, at least until it breaks out of this triangle.

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