AUTOREFRESH 
Asian FX market open: AUD uptrend recommences
By Sean Lee || March 17, 2010 at 21:12 GMT
|| 16 comments || Add comment
After a period of consolidation between .9100/.9200, the AUD/USD looks like it has recommenced it’s uptrend and I am looking for a move now above and beyond .9400. The GBP has also continued to undo its severely oversold status but I think it will struggle to make more sharp gains as we near the 1.55 breakdown level. EUR/USD is rangebound 1.3550/1.3850 (with a bullish bias in my opinion) and USD/JPY is, well, USD/JPY (enough said).
Good luck today.
GM Sean
NY session today was very interesting , I hope Asian will follow ! at least can make you less bored like yesterday
EUR is heavy , if it breaks 3700 we can have some firework
Good morning from China, Sean! When you have a moment, please peer into your EUR/JPY crystal ball and tell me what you make of the 125.22/26 “resistance cluster” – an upward channel deal killer; another 38.2% line in the sand drawn by people who have never seen a beach; or, something else?
Sean
do any of your buddies know what was behind the $5 spike in gold in the last 15mins please? Im scratching my head
Thanks, Nicola
Morning Thanh, anything would be better than yesterday. I still think EUR/USD is in 13550/13850 consolidation and we are right in the middle of that range. Only edges interest me in the EUR/USD Thanh. Best of luck today.
Good morning to China Solange, you are up early! Well one thing I can say with a fair dgree of certainty is that if it breaks above there we’ll see a quick 150 pip spike. The 38.2% level is certainly relevant imho but I don’t like ‘double tops’ mid-range, for mine they are much more powerful when they form at top/bottom of medium term moves. All in all, if I had to trade it I’d be small short, adding on rallies, with an aggressive stop/reverse policy above 12535ish.
Good Morning sean. jamie mentioned lots of australian sellers aud/usd. just wanted to clarify, that he meant short orders @ 9250/60. Thanks for your help hart. that 9195 order is working from last night. maybe we get a little pullback at some point to add to it.
Hi Nicola, my man in the gold market isn’t at his desk for another 2 hours but I’ll ask him later.
yes Hart, he was referring to market talk of decent sized sell orders in the AUD/USD between 9250/60. On the other hand, I have heard some unsubstantiated talk of a big buyer lurking who will be in action today and tomorrow. Let’s wait and see what happens.
guys we shouldn t forget the big magnet , 1 Bn EurUsd option at 1,3900 expiring friday,they will do everything to move the price there
Thank you kindly sean.
Thank you for your EUR/JPY comment, Sean. I, personally, refuse to touch the JPY (long or short) this month (or, as long as there is evidence of continued offshore-JPY inflows).
Sean, it appears that there are no “significant – scheduled – economic calendar events” that could impact the AUD in any “meaningful way” during the next 5 trading days (in other words, from now until at least the opening of Sydney business, March 25th. When you have some time, please confirm.
Correct Solange. It will be flows and sentiment shifts which have the biggest impact I’d expect.
DJ MARKET TALK: Correction On McCrann RBA Call To Lift AUD – NAB
A correction from RBA watcher Terry McCrann may make waves in AUD, Aussie bonds today, according to several strategists. News Ltd.’s McCrann, who had called for RBA to pause in April in an article yesterday, today said it was a mistake and he expects RBA will “probably” raise rates at that time. “As such, we may see the implied probability of a 25 (basis point) rate hike in April head up from the current 32%, providing the AUD with a boost. Initial resistance is at 0.9245/50 then the key level is the year-to-date high of around 0.9330 struck in mid-January
… which is where the RBA pooped the party?
Is that 9230 support in aud/usd going to break or what?