Is it just me or did kiwi get hit harder than the aussie on the US sell-off? My preference at present is for kiwi over AUD, so I’m a bit perturbed. Kiwi has bounced back well from setbacks so today will be a bit of a test for it – its already below the US lows, while AUD sits just above its.
The buy orders in AUD were sliced through easily on the big drop, and while there are more buyers below, they, and me, are going to very, very wary.
I prefer selling the pops today rather than being a dip buyer.
- Offers 0.9739 to 0.9752
- Offers around 0.9720
- Offers initially 0.9697/07
On the down side:
- Bids ahead of and at 0.9650, with trading stops below
- 0.9600/10 is the next level lower
As I said, buyers are going to very wary after such an easy, rapid drop to new lows for the move. I think we should be too.
