Traders are obviously still tired after the big moves from yesterday afternoon and there has been little movement in the spot market after the slightly better than expected balance of goods and services.
Going back over a 10 year period, any level around 1.50/1.55 has proven to be very cheap. This is not a pair which is usually traded intraday, rather traders take a longer term view. If a base forms at 1.55 … Continue reading
Looks like commodities are not too concerned by the RBA’s unexpected pause. Gold is up to $1116 (from $1075 late last week) and Oil is up another $2 at $76.50. We we’re on a $72 handle late last week. The … Continue reading
AUD/USD back over .8800, presently at .8803 having been down to .8780. Talk decent buying from UK clearer and US investment bank helped lift pairing. Elsewhere, UBS has apparently issued AUD/NOK sell recommendation at 5.22 (how exotic, well almost) Target 5.00, stop loss … Continue reading
AUD/USD down at .8785 from around .8815 when I sat down. Talk German bank has put out buy euro/aud recommendation. Details unknown (well at least by this kiddy) There have been earlier reports of Asian sovereign buying beneath .8800. Will be … Continue reading
Market feels long and wrong with the AUD/USD drifting steadily lower and showing little propensity to bounce. Some bids are tipped around the .8760-70 level so that might be a good place to start booking small partial profits. Sellers now … Continue reading
The RBA has been the most bullish of central banks in recent months, hiking rates when others are still in QE and generally giving out a bullish view of the global economy. They have now seen fit to stop hiking … Continue reading
First support is close to being tested at yesterday morning’s .8790 low. The December low at .8750 is just below there and that will be a big level as a break will target my preferred profit level of .8570. Greed … Continue reading