AUD/USD: Some big hedge funds noted sellers in recent sessions
No, I have no idea why but it is nevertheless interesting to note that 2 of the big hedge fund names have been selling AUD/USD over the last 24 hours. This could be part of a cross-play or it could be a straight AUD/USD bet, I’m sure we will find out more in coming days. What I do know is that if the big players all gang up on one pair then we are likely to see some fireworks sooner rather than later. By the way, asset managers are still the main buyers on dips.
I’ve been trying to short the AUD, primarily against the EUR, at various stages over the last 2 months but I’ve invariably gotten my timing wrong so I’m not going to start chasing it now. I’ll leave it to the big boys.