AUD/USD down at .8858 from early .8875. Just getting reports Russia buying at current levels. Maybe they’re building up a huge GBP/AUD possie 
5 Responses to “AUD/USD lower; notable buyer at current levels though”
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AUTOREFRESH 
The AUD is not declining as much as the CAD, as I have noticed. Just broke even on my short just this morning. Would have been better to buy USD/CAD on the risk-off resource-off play esp. Oil/Copper
Gerry, do you thnk the russian buying could slow down or even stops the aussie downtrend or even reverse it?
There is a clear downtrend in AUD/USD on the daily charts (started Aug 6th) which has broken the uptrend (from early June) if the spikes are taken out. Considering the spikes along the way we still have room to decline to the .8750 region before the month ends. I would rather sell rallies then start building longs before we haven´t “touched ground”…only above .8970 would negate and trigger a buying signal…
sorry i missed your russia comment earlier Bob. no wouldn’t rely on russia buying to stop sell off. to me russia is a big fx jobber, so don’t rely on their activity to have anything more than short-term impact in nay pairings
when it was around 8850 i did get reports (didnt have time to put them up) of two things; sell stops through 8840 and decent local buy orders down at .8820/25. given subsequent price activity we saw eividence of both. I’m with saferanger on strategy. everywhere i go in recent days i just read worrying articles regarding a global slowdown in the offing. I know what i think of the UK economy and these articles just underpin my feelings of impending doom. in this risk adverse envorinment obviously jpy and usd fair well, commodity currencies dont.