AUD/USD: Optionality beckons

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There has been a lot of talk about the big option barrier at .9750 but it seems that even if it does break there are more barriers waiting. There is a smaller one at .9800 and it’s no surprise to hear of a large one at .9850, as that was the main high back in 2008.

There will be accelerations if stops go off but the path to parity is paved with obstacles.

2010-10-05T21:47:21+0000

All|Asia Pacific|Forex Orders

AUD/USD

Sean Lee

3 Comments

  1. Hey Sean, what do you think of AUD/JPY for this session? There is no major news coming out till Europe, therefore not much event risk and AUD/USD is on the rise.

    However, my fear of the AUD/USD is a BOJ intervention in the USD/JPY which will cause the dollar to shoot up and the Yen to crash.

    Should I have no reason to fear or is the AUD/JPY really a safer bet than the AUD/USD?

  2. Hi stophunter. Not sure if I’m much help there as I think we should be trading a range of 80.00/81.85 and we are sort of in the middle of it now. I definitely prefer a bearish bias as long as the 61.8% retracement at 8185 caps.

  3. Thanks Sean, it feels like you and the guys are my wise council.

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