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EUR/AUD: Nearing short-term resistance at 1.2320

By   || February 9, 2012 at 01:48 GMT
|| 3 comments || Add comment

There are likely to be sellers ahead of this level with stop-losses just above. The market is very long AUD and very short EUR, so watch out for sharp short-covering rallies in EUR/AUD. I’ll put some technical analysis up in a little while but this pair is starting to show some signs of weariness after a big fall and could soon be ready to turn? I’m long GBP/AUD in anticipation, as I have trouble staying long EUR for extended periods.

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3 Responses to “EUR/AUD: Nearing short-term resistance at 1.2320”

  1. gametheory on February 9th, 2012 01:57 GMT

    still short eur/aud till 12000..and so is gbp/aud. Believe risks still to the downside

  2. Harry on February 9th, 2012 02:24 GMT

    Hi Sean, Are you still short AUD? I’m of the view that this bullish upswing is loosing momentum. Your thoughts?

  3. Sean Lee on February 9th, 2012 02:28 GMT

    Hi Harry, I’m still trading from short side and agree that upswing is losing momentum, then again I would talk my book :)

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