Seeing some model funds buying AUD this morning off the low 92c area. However, technical traders are selling after the bearish key day reversal on the charts, suggesting there is more downside in it. Look for consolidation type of day, ranging between 9220 and 9280.
Personally i have been trading from the short side which has worked ok except for yesterday. I was stopped out on yesterday’s up move to 9369 but re-established shorts on the way back down thru 93c. I will be a seller again on rallies towards 93c, as I feel this run up has come to a halt.
