Comments on: AUD/USD: Looking oversold again and most recent selling is speculator driven https://fxww.com/audusd-looking-oversold-again-and-most-recent-selling-is-speculator-driven/ The Professional Source Wed, 03 Jul 2013 08:31:30 +0000 hourly 1 By: Sean Lee https://fxww.com/audusd-looking-oversold-again-and-most-recent-selling-is-speculator-driven/#comment-24352 Wed, 03 Jul 2013 08:31:30 +0000 http://381c099c8f.nxcli.net/?p=9157#comment-24352 Let’s put it this way James, I’m thinking of buying more physical 🙂

]]> By: James https://fxww.com/audusd-looking-oversold-again-and-most-recent-selling-is-speculator-driven/#comment-24349 Wed, 03 Jul 2013 08:12:11 +0000 http://381c099c8f.nxcli.net/?p=9157#comment-24349 Hey Sean,
Not a worry rescheduling – let me know.

Have you had any thoughts re gold?

]]> By: FxDrive https://fxww.com/audusd-looking-oversold-again-and-most-recent-selling-is-speculator-driven/#comment-24341 Wed, 03 Jul 2013 06:50:02 +0000 http://381c099c8f.nxcli.net/?p=9157#comment-24341 Hey Sean , back on the counter trend boat with a few points. Current levels are within the area of 62% retracement of the last weekly advance 0.8060 – 1.10 , which stands at .9180. Point is that a retracement bigger of a weekly up trend of such magnitude happened during GFC when it retraced 76.4% of the advance since .50 in 2001 to .98 in 2008. Right now the price is consistent with a downtrend , making new lower lows , but if these levels are sustained on a weekly basis ( there’s that US employment thingy ) then i would look for a retracement to 76.4 which is around .8750. Now i just know that I’m not the sharpest stick when it comes to fundamental valuations , but to dump the currency that hard like in 2008 would mean that the situation is that bad. And since we’re not in a GFC again and the issue is less of safety and more of yield , if they’re pulling money out of Australia they have alternatives for yield right ? Price action for the rest of the week remains of major importance.

]]> By: Sean Lee https://fxww.com/audusd-looking-oversold-again-and-most-recent-selling-is-speculator-driven/#comment-24335 Wed, 03 Jul 2013 05:46:25 +0000 http://381c099c8f.nxcli.net/?p=9157#comment-24335 Thanks James, sorry bit slack today, kids on school hols and we’re on move. Btw, will have to move back our get-together by 1 week to July 25th, will send you an email

]]> By: James https://fxww.com/audusd-looking-oversold-again-and-most-recent-selling-is-speculator-driven/#comment-24334 Wed, 03 Jul 2013 05:42:53 +0000 http://381c099c8f.nxcli.net/?p=9157#comment-24334 Also released today was Australia’s Balance of trade showing a surplus! (So much for a high currency encouraging imports). At around A$670 million it is an underlying bullish fundamental – representing, as it does, a deficit on the capital account absorbing at least some of that repatriation selling.

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