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ForexLive Asian market open: AUD bounces, majors steady

By   || March 29, 2010 at 21:32 GMT
|| 9 comments || Add comment

The AUD has bounced back after the losses sustained on Friday night last. Once again it was a case of risk off before the weekend and re-buy when the the new week starts. Most of the other majors are exactly where we left them yesterday after quiet trading sessions both in Europe and in NY. Japanese unemployment and industrial production data are unlikely to have much impact and with most end-of-financial-year business now complete, I’m expecting a relatively quiet session.

Good luck today.

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Category: All, Asia
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9 Responses to “ForexLive Asian market open: AUD bounces, majors steady”

  1. Rance on March 29th, 2010 22:03 GMT

    Morning Sean, do you think that the AUDUSD will break the 92.00 handle based on opinions that JPY will be buying USD at the start of the New Year around April 1st?

  2. GreenKnight on March 29th, 2010 22:16 GMT

    I think a better time to short the AUD/JPY would be around the NFP on Friday, once the pair consolidates around 85-85.5. Your thoughts?

  3. Sean Lee on March 29th, 2010 22:23 GMT

    Certainly possible Rance but I am still wary of a possible turn. The short term moves are hard to pick

  4. hart on March 29th, 2010 22:24 GMT

    Tough call there is aud news over the next 3 days. Friday is good Friday so equity markets are a consideration to account for.

  5. puks on March 29th, 2010 22:32 GMT

    Good morning Sean and guys,

    I am building AUDUSD short positions with an evetual target of low 8960-40.

    If you look at the charts it has done 180 pips rally without any 20 pip retracement at any given time in any TF.

    Market is pricing in a rate hike next week but I am willing to take a huge punt on the fact that there wont be a rate hike next week.

    I know its expensive but when market is overly long, as Sean said, a risk event can take us down to low 90 handle sooner rather than later.

    Sean – What is the important tech level to watch for in AUD in short term?

    thanks

  6. Sean Lee on March 29th, 2010 23:08 GMT

    Hi Puks. Above 9250 in the s/t and then .9325 above there.

  7. puks on March 29th, 2010 23:19 GMT

    Hi Sean,

    RBA deputy Gov. Debelle was supposed to speak today. Do you know what he said, if anything?

    thanks

  8. Sean Lee on March 29th, 2010 23:50 GMT

    Hi Puks. Save this link http://www.rba.gov.au/ and you wll get all the speeches and economic releases straight away

  9. puks on March 29th, 2010 23:54 GMT

    Thanks Sean. Shall do.

    Cheers

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