AUTOREFRESH 
The Rise and Rise of AUD/USD
The break to the topside in AUD/USD shows little sign of relenting. AUD/USD short time ago made a record post float high of 1.0348, pulling up just shy of reported barriers at 1.0350. The whole world is now bullish for the AUD but they are repeating reasons that have been around for quite some time to substantiate their view. The move of course in the last fortnight has been twofold. Relentless buying from a UK name started the ball rolling (generally accepted as being a M&A transaction but no one knows for certain) which swept aside previous strong resistance at 1.0200. This forced players to cover with many buying topside AUD/USD strikes thus countering topside barriers placed every 50 or so pips. The second reason is JPY weakness which has been pronounced against all and sundry.
It might be a little misleading to look at AUD/JPY in isolation because it was definitely reason number one that kicked start this move. That said there has been some mighty big calls in JPY crosses this week from the investment bank community – EUR/JPY +126, AUD/JPY +90. All up we may have a lot further to run but it is unlikely to be in a straight line.
Sean, wanted to post here again what I posted yesterday during Jamie’s hour. Read elsewhere and verified that there’s bearish divergence in weekly chart in both RSI and SSTOCH. Also read RBA may cut rates if industries outside mining doesn’t show improvements. Here’s the link: http://www.perthnow.com.au/business/news/rba-may-start-cutting-rates-if-economy-outside-mining-doesnt-improve/story-e6frg2qu-1226029918965
I hope this predicted AUD/JPY isn’t soon. I am trying for resistance between 85.70-86.00(weekly MA240) If we come back to 84.00 I’d like to go long. Thanks as always for all the info you pass on Sean.
Defying gravity
AUD/JPY is a touch down on the day now, on my chart. First time for a while I can remember seeing “AUD/JPY down on the day”. I wanna start buying around 83.30, we’ll see.
Apparently the Ministry of Finance announcement about how much they intervened will come out today at 19:00 JST.
Sean….What makes this finally tip over?
Throwing fuel on Qantas’ fire: Reply
There’s a pointed contrast between the two announcements Qantas made today. In one it revealed a quite rosy picture of rising passenger volumes across the group for the year-to-date. In the other it detailed a long series of one-off and continuing shocks to its business that has prompted a significant reduction in planned capacity growth and another round of senior redundancies.
http://www.businessspectator.com.au
Should I buy some AUD before they all disappear?
HI TN, long time no hear, hope you’ve been trading well. Once the big speculators start buying it could be weeks before they’re finished. I’m of the view that just like elsewhere in the world, it will be the property mkt which finally bursts the AUD bubble but we might be selling at 1.15 for all I know. Best left alone for contrarians like me
Thanks Sean! Not trading that well, ouch. I can’t believe that AUD has been still on this” to the sky” rally even with Copper pulling back since Feb from the LME top of 10,000 tonne.. If China can pop their Property Mkt then Australia should follow…I will speak up more, lol, I have been here reading you but licking my wounds in silence, lol. Bubbles are so hard to fight..
Hang in there TN; JR reckons there’s a big ‘whale trade’ just around the corner which we’ll all get on and surf to retirement
rofl, Hope JR is right…it would be fun to go surfing.
there should be shortterm downtrend audusd ,i hope mr.sean could tell us when…
I’ll leave the Aussie alone for now and focus on the cable…
Nah Tony, I’ve given up trying to sell the AUD/USD- too hard
we could see some aud retracement with well support.