AUD,NZD/FXWW News

Post-RBA price action suggests to me that AUD/USD goes higher quite soon

There was a pop in the AUD/USD just prior to the RBA rate decision and this occurred because all the big local players and prime brokers pulled their bids and offers out of the market around 30 seconds prior to the announcement.

With existing shorts at quite extreme levels, I don’t think it will take much to drive this market back towards .80 cents.

Corporate bids have been very solid between .7750/70 and buying any dips towards there makes sense to me.