I’m adding to my small EUR/AUD long position at current levels, which in essence gives me a EUR/NZD position as I’m also long AUD/NZD. One of these trades will probably turn out to be wrong but hopefully I can break even on that one and make a motza on the other!
AUD/USD has triggered trailing stops below 1.0430 and looks to be establishing itself again below the 20-day MA, a recurrent favourite of all AUD/USD traders. It comes in today at 1.0499 and should provide a solid resistance level now.
