You really shouldn’t catch a falling knife, even/especially one that’s disguised with a bit of carry earnings, and so it’s proving with the Aussie $ right now
Stops triggered below 1.0900 in AUDNZD plus EURAUD demand have both combined to put the pressure on AUDUSD this morning which has now triggered stops through 0.8500 and posted new 4 year lows at 0.8480
I asked in my orders post whether anyone wants to still buy it down here and the two ( yes an overwhelming two!) replies have produced a vote for and a vote against. So in this broader thread what are you all thinking out there
Is this move down all over now? Or is 0.8000 just a matter of time away? I’ve not been a buyer of this pair for a while and warned against buying AUDJPY last week. I stand by that view, albeit with the obvious caveat that these are better levels if you feel so inclined.
