AUD,NZD/FXWW News

AUD/USD: Still long- .8850 looks to be crucial level

I’m happy to stick with my long position from yesterday but gains from here through .8850 are expected to be hard fought indeed. Interbank sources are reporting decent selling interest between .8825/50. That said, stop-loss buy orders above .8850 are likely to be very heavy so I will stick with the long trade ands see how the market develops.

  1. Hi Sean, what is your profit target and also with the cpi data tomorrow what do you expect being in australia you know better will the data be helpful to the long trade.

    Thanks
    Yasser

  2. Hi Yass, I’m not going to guess on any economic data and its unlikely to be significant enough to move any interest rate argument. I don’t have a target just yet, I’ve traded it up n down a little in the short-term and I hope to build a decent position before it breaks (IF).

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