AUD/USD session outlook

The local banks are saying that there is surprisingly little interest in the AUD at the moment. The big asset managers and reserve managers are all quite long, but don’t seem eager to either add or subtract from their present positions. The big macro funds are short and also don’t seem overly eager to ‘get big or get out!’. That leaves intraday moves at the mercy of newswires and short-term sentiment. I’m sidelined on the Aussie but still prefer the sell-big-rally play.

  1. Sean, you said “prefer the sell-big-rally play” however the level at 1.0325 and 1.0290 seems interesting for a dip buyer ? I would be tempted to buy there 😉

  2. Agree Paps, could be a nice trade. Maybe buy at 10300 with tightish stop. If lucky and don’t get stopped, wait for rally to 10650 to stuff everyone then sell double, reversing the position. That leaves perfect possy, short at weekly trendline with average entry 350 pips above- what a thing of great beauty that would be??

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