AUTOREFRESH 
‘Risk trades’ wary as Greek talks drag on
By Sean Lee || February 5, 2012 at 21:33 GMT
|| 4 comments || Add comment
With Greek unions set to strike ahead of more agreed cutbacks by their government, the risk-on mood from Friday night is fading a bit and the AUD/USD is back at its previous resistance level near 1.0750. Asian players have been solid sellers of AUD/USD over the last few sessions but as yet we are hearing little on the order front which might hint at this trend continuing or not. Barrier protection is still expected ahead of 1.0800.
Hi Sean…..I guess you are waiting for the superbowl game? Isnt it?….what do you about the political social religius pressure and opposition in Greece and the final impact in current situation/negociation?
Oh Robert, that’s much too heavy a question to start the week with
Many countries are broke and can never repay their debts. They also do not want to face up to the belt-tightening measures necessary to get their budgets back under control. They keep kicking the problem down the road but at some stage there must be a reckoning; what happens then, I’m afraid I don’t know.
Hi Sean, Some months ago I sold the AUD at about 1.07. it then slipped below parity and you wisely advised me to buy, which I did (thanks) I’m tempted to try it again. I remember feeling exactly the same way then as I do now. Every so called expert was jumping on the bandwagon saying that 1.20 is not far off but those same people were saying .85 was not out of the question when it hit .99 on the way down. Question is should I short it again?
Just be interested in your views. As always, thanks
Yes Harry I remember, well done indeed, great trade. I think its still a reasonable risk-reward to go short somewhere near here. I agree with you, we are in a range 95/110 so I think selling near top and covering near base is sensible. But as always, I think we need to build positions carefully and keep stops manageable; if you get stopped out then you can always have another go. Good luck