AUD/USD: Taking a small long position this morning
US yields eased lower again on Friday after a big fall on Thursday, precious metal prices remain very steady as indeed to commodity prices. These are all good signs for the bullish AUD/USD case and with most of the big flows now having dried up, I’m going to edge into a medium-term AUD/USD long trade.
I’ve gone long at .9570 and if a base seems to be forming at .9550, then I will look to increase my position size. My target is 1.50! Joking, but I think we will see prices back above 1.00 pretty soon with lots of trading opportunities thrown in.