Discussion in 'Forex Trading' started by mikeenday, Dec 5, 2011.
what is the news here?
RBA announced 25bp rate cut
chinese CPI later in week alomg with australian GDP and unemployment key aud movers
Some economists expect 3.25% by the end of 2012
Australia reported that it lost 40,000 full time jobs in November. This increased the unemployment rate to 5.3%
though the economic is still very strong, AUD is ovevalued, more people will short AUDUSD now.
If AUD/USD can stay above 1.0130/50, it is possible to see 1.0335 and maybe 1.0480 next...
If it goes below 1.0130/50 then 1.0020 is next...
hmm I was wrong 8 pips, it was down to 1.0028
not surprisingly yesterday AUD pulled back to 1.0160 and turned to south again. sell on rallies to go to 0.9820/0.9780 target area...
I unloaded all my AUD. Thinking about getting long AUD relative to JPY, what do you think about the trade? JPY is looking weaker against USD, but stronger relative to AUD.
still bearish on this pair. expected trading range is 1.0150 and 0.9700
AUD is bullish but hit 1.0380 wall again yesterday... so if AUDUSD can break 1.0380 then 1.0480 next, however a close below 1.0260 indicates it will get back to 1.0170
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