AUD,NZD/Flows and Orders/Technical Analysis

AUD/USD: Still looks like 1.04/1.05

AUD/USD has stalled twice near 1.0400 and technical support is certainly strengthening but the big investment banks all report sell orders starting at 1.0500, which sounds like the perfect recipe for range trading.

My short-term bias is slightly bullish as risk sentiment should continue to improve post Fed and BOJ and this should outweigh any soft-ish economic data out of China. Medium-term I still like the idea of selling near the top of the weekly wedge, currently just below 1.0700.

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