AUD/USD looks set to test September lows

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The break out higher in EUR/AUD  through 1.2550 in the NY session has been further extended to  1.2630 and this is helping pile the pressure on AUD/USD bulls which is looking set to target sell stops through 1.0200.  AUD/USD Technical support below lies around  1.0180 ahead of the Sept 5 lows of 1.0165.

The break down through 80.00 in AUD/JPY is also significant and triggered a round of sell stops  and now targets the Sept 5 lows of 79.68. There’s some support tech below in the 79.30/40 bracket but likely  sell stops just below

Money markets are now apparently pricing in the odds of a further RBA cut in November at 80% and with Governor Steven’s saying  the mining boom will now peak earlier than originally expected some bank analysts are now seeing a succession of cuts down to 2.5% next year.

Let’s see what China does about itself though before getting too carried away.

Yes, Gerry… looks like i’m getting the latest AUD/USD poll dead wrong anyway…  :(    .. but i like a bit of egg on my face from time to time


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Pete Jackson


  1. I didn’t put your choice up on the poll as I thought it was obviously wrong. I only try to put up your right choices :) So unless you gobbed off somewhere else you had no need for the mea culpa

  2. Pete, Gerry, what do you think about AUDCAD, where it can fall ? Any S/R levels ?

  3. Morning Mike, think that more of an AUD play than the CAD. Tech support at the Sept 5 lows of 1.0055, ahead of parity and then the May lows of 0.9956. To be honest it’s not a cross i follow though Mike

  4. Morning Pete, I remember some time back reading a post here analyzing AUD bullish tone mainly on FDI flows. Do you think recent developments will effect FDI flows.?? Even after the cut, AUD looks more promising that EURO zone.. isn’t it.??

  5. Thnx. And how about AUD ?

  6. I hear that in AUDUSD, it’s just all offers.. I think it will be a slow grind down. good luck all :)

  7. We should associate the NZD to AUD life :)

    Rumours about cut rate decission too.

    Long eurnzd and short nzdusd should be a good decission.

    Anyway I guess that SNB will unload the AUD NZD and CAD to get stinky CHF soon


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