Traders report that China is holding on to longs in AUD/USD but it is buying some options protection should the market turn lower. That’s the nice thing about profits: you can spend some of them on protecting your gains.
You can take this info two-ways. One, they are getting nervous. Two, they are just being prudent. We report, you decide.
AUD/USD remains range-bound, capped by selling on rallies toward 0.9380/9400. It trades now at 0.9315.
