Anyone following this pair along with me will know that I like the possibilities here. I see this as a good hedge against a potential default or downgrading, which is still unlikely but becoming liklier by the day. During the global financial crisis, EUR/AUD shot higher and could do so again.
The record lows from January at 1.2920 were tested overnight and held firm. I managed to buy the dip and will reduce my position on a break below 1.2900. Once again, the trend is heavily against me but the risk-reward is spectacular so I’m happy to take this trade on.
