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AUD/USD update

By   || February 12, 2012 at 23:15 GMT
|| 14 comments || Add comment

Having reduced my short position significantly on Friday night, as I don’t like running large positions through the weekend, I’m hoping for a bit more of an intraday rally to sell into. Interbank dealers tell me that offers are building between 1.0750/65 so I’m putting a small offer in at 50, lets see what happens.

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14 Responses to “AUD/USD update”

  1. Moussa on February 12th, 2012 23:38 GMT

    I’m long Aud/Usd… I think if we have a “risk on” environment we could test 1.0840

  2. Richard on February 13th, 2012 00:18 GMT

    Been short since early jan & having my daily snack of rollovers..

  3. Siva on February 13th, 2012 01:36 GMT

    Good morning Sean. Just to reassure, we are still holding onto our small GBP/AUD long? Any mental stops you have? Thanks

  4. Sean Lee on February 13th, 2012 02:04 GMT

    Hi Siva, yes still long and the carry is starting to hurt a bit but I’ve only got small position so far. I think we’ll just have to hang on and see if a bottom can form. If starts trading below 14600ish then will have to consider chopping I think

  5. Siva on February 13th, 2012 02:09 GMT

    Thanks Sean. Yes, the negative carry is bad. A daily close below 4600, should see me closing the position.

  6. Kamran on February 13th, 2012 03:10 GMT

    Hi Sean, I am long on AUD/USD but the market opened with a gap to the upside. Do you think it will try to take it out during the Asian or European session today?

  7. Sean Lee on February 13th, 2012 03:20 GMT

    Hi Kamran, such Monday morning gaps ‘normally’ get closed within 2 or 3 sessions but there are of course exceptions to every ‘rule’

  8. Kamran on February 13th, 2012 03:30 GMT

    So 2- 3 session would be like by mid-week you mean?

  9. Sean Lee on February 13th, 2012 03:41 GMT

    No, by NY close tonight

  10. Tan on February 13th, 2012 04:22 GMT

    Hi Sean, I’m looking for a long term position on Aud/usd. But I’m uncertain where to sell, 1.0750/65 is dealer’s choice as per your say. On the otherhand, I’m hearing some rumors that it would breach 10900, not sure what to do. Like to know your opinion.

  11. Sean Lee on February 13th, 2012 04:29 GMT

    Hi Tan, for a long term play I think a bit more info is needed, as we could certainly see 110+ again especially if Fed minutes on Wednesday read very dovish. I’m short at moment but I’ve been tradoing it actively and don’t have a large position at moment, as I too need some confirmation

  12. Tan on February 13th, 2012 04:39 GMT

    Than Sean for your insights. So, its better to see what outcomes through Fed minutes.

  13. Sean Lee on February 13th, 2012 04:44 GMT

    I think so Tan, especially if its a loing term trade you’re looking for then its not so absolutely essential to catch the absolute top; best to be sure the mkt has already turned

  14. dam on February 13th, 2012 05:03 GMT

    Look like aud prepare big fall… I see it around 1.0460 before weekend…. couple of weeks I wondering where from aud strenth comeing..finaly find out.. ‘from nowhere it is just pure speculation of big players :)

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