Flows and Orders/FXWW News/Open/Wrap

Quiet in Asia apart from few stop-loss runs

  • Gold triggered stops below $1300 as USD bulls return ahead of NFP
  • USD/AXY also busy with solid demand reported across most regional currencies.
  • AUD/USD stops triggered below prior lows at .8910 after low PPI readings.

All about the NFP lottery tonight and the fact that the USD bounced back so strongly after MSCI-related selling earlier in the week is certainly impressive. Looks like the market wants to buy the USD so bears should keep their stops tight.

  1. AUDUSD is forming a falling wedge (2-3-4 hr charts). But the wedge’s falling slope is so steep, a lot stepper than in textbook. Do we have any hope for a small reversal here?

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