EUR/AUD: Trying to consolidate break above 1.2750

The AUD has taken a bit of a beating today after the Chinese data and there is more to come I suspect. EUR/AUD is the latest pair to showcase the Aussie weakness and its trying to consolidate a bullish break above 1.2750. I remain long of this pair but won’t add to the position until this break is well and truly confirmed.

Not much sign of a bounce in the AUD/USD so much will depend on what happens to the EUR/USD during European trade.

  1. While flipping through charts, I noticed, possible nice double bottom forming in daily aud/nzd. Both H1 and H4 looks quite constructive, so I am throwing bid there at 1.22. S/L 1.21, upside Could be 1.26-1.29…

    1. My god did somebody read my levels from 12 hours ago and collected stop losses??? I got lucky by actually putting everything 50 pis lower… Anyway if I understand anything it smells like exhaustion spike…. Will see over next couple days.

  2. No I was stopped on AUD/USD on the way up. after that did nice short term short on NZD/USD, got whipsowed on Nikkei so pretty much pathetic april so far. Right now have tiny long in USD/JPY but no strong conviction there at the moment. Want to short EUR/USD and GBP/USD but think that one more leg down in JPY could be counterproductive for such a trade. Most probably will wait another week or two. I will be jumping shops soon, so most probably will be inactive for next several monthes.

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