AUTOREFRESH 
AUD/USD back above .9200
By Sean Lee || March 16, 2010 at 21:49 GMT
|| 11 comments || Add comment
It looks as if the AUD may well have one of its bullish spurts today with the pair back above .9200 and little in the way of resistance until .9325, a level at which the RBA has intervened on two occasions. Technical support is now firming at .9050 and with such an expensive carry in play, shorts are being consistently squeezed out of the market. Buy-big-dips is still the mantra here.
Have a dry weekend all 
I’m so in your camp on that one Sean. I tried a short, and almost lost my shorts. Aud is pullback and buy, or pick your point above if you know where the. stops are. I picked up some pips, but could have done much better. Had I not fought the grain of the trade. It was a long night.
I agree there Hart. I tried picking tops when it was in the mid 80’s and I kept getting burnt. Since I’ve reverted to the buy-big-dip-and-hold strategy, my P/L has done a miraculous about turn. It looks to be, in this case, that the trend is our friend. Let’s just hope we can spot the turn when it invitably happens.
I agree… don’t try to pick tops against the trend
Good for you Sean. I’m taking your advise. I can always add to positions on pullbacks. I think the greenback is in for a pretty sturdy slap.
*cough*
Well a motley crew of us did the opposite with cable a couple of weeks ago
hmmm i didnt know RBA had intervened before. im a bit more nervous about going long now lol
As Jamie graciously put it, they were “smoothing” price action. Smoothing = ~600pips down & back up again
G’Day Sean! Having a blast with USDCAD tickling my stop by 1.3 pips… broke down & bought some A$… all I want for my b-day is a winning trade 
Blimey!
Ok, well, repeat after Sean … Tabhair póg dom, táim Éireannach
to be sure
Beannachtaí na Féile Pádraig
Well said Lilac
G’day Zac. Wish I could help but if you’re not already on these CAD, AUD or GBP upmoves then I’d leave alone and await the next golden opportunity.
Yeah, I’m in denial, knowingly though. Tight stop on the A$ in case there is a pop, that’s all. Other than that, 1.0130 will kill the USDCAD. Unless there’s a rally on that, then I’ll shoot for a better exit.