AUD/USD still looking very heavy, more losses in store

  • Markets are getting increasingly thinner in the lead up to Christmas and some big players like real-money funds and reserve managers still need to sell it seems;
  • RBA Stevens again tried to talk the AUD down, saying that 85 cents would make more sense;
  • The break below the psychologically important .9000 now gives rally-sellers somewhere to put their sell orders;
  • If you really do feel like buying the AUD on dips, I’d look to the crosses like AUD/NZD near 1.0750, AUD/JPY near 90.00 and possibly even AUD/CAD;
  • Nothing of note on the economic calendar;
  • Initial AUD/USD target is trend lows at .8845 but a move to longer-term technical levels near .8650 looks quite feasible.
  1. Nice one. I made a good profit from GBPAUD long from your previous post on AUD selling by big players.

    Also, i was short USDCAD, got out of it with a small profit after reading your article on USDCAD. Looks like it is going up now on tapering speculation.

    Thank you very much.

  2. Thanks again Sean. I am long USDCAD, USDJPY and GBPAUD. Should have gone short on AUDUSD instead of long GBPAUD considering the downside risk with GBPUSD from your blog posts.

    But I will take that risk and keep an eye on GBPAUD. may also open short AUDUSD. Will see how it goes.

    Keep showering your golden nuggets on retail people like us. 🙂

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