AUD,NZD/Flows and Orders

AUD/USD session outlook: Plenty of selling interest near 1.0500

Regardless of what happens in Europe, the AUD/USD market seems likely to stay in range trading mode for yet another week. Plenty of selling interest starting at 1.0480 and getting heavier near 1.0510/20 should prove tough to crack. Even if EUR/USD does break cleanly above 1.3000, perhaps we see a big EUR/AUD move? Bids are reported in AUD/USD starting at 1.0420 and the reserve managers will undoubtedly appear somewhere in the mid 1.0300’s.

  1. I’ve got some sell orders in at 10510 but tight stop on them just in case. I’ll stay co short until weekly trend line breaks then I might even consider going long? What you think?

    1. I have a sell limit at 1.0483 and another at 1.053. TP for the first one is around 1.044/5. TP for the second one is undecided yet, will need to look at the order books when the sell limit gets triggered.

  2. US dollar is looking decidedly vulnerable to 79.50 on the index. Just can’t see Aussie sitting on its hands while that is going on. It’s a buy dips market on the AUD USD and I think the dip was last night.

  3. Hi Mike, there is no ‘end’ to the whole EZ saga but for now at least it would seem that the Greek-debt headlines will be absent for a couple of months. But the saga isn’t over yet by a long shot and every ‘deal’ just raises more questions about how to finance it

Leave a Reply

Your email address will not be published. Required fields are marked *