AUD/USD: Trade data today and sentiment remains bearish
- AUD/NZD traded to lows at 1.1002 last night as barrier protection held the first attempt;
- AUD/JPY has come off quite heavily but is still in a medium-term holding pattern above 90.00;
- EUR/AUD is making a strong daily close above previous highs at 1.5030;
- AUD/USD is still very heavy and selling rallies looks like the safest play.
I’m not trading AUD/USD at the moment but it still looks soft in the short-term and selling any rallies towards .9100 makes good sense to me. My immediate s/t target is at .8950.