Morgan Stanley expected AUD/USD to fall to 0.6500
In late October analysts from Morgan Stanley released a trade idea. They forecast AUD/USD would fall all the way 0.6500. They initiated the trade at 0.7670 with a stop at 0.7750.
The trade was stopped out in the latest round of AUD/USD strength.
Technically, the break higher here is a constructive sign for the pair.
I had some positive comments about AUD/USD yesterday:
If you take a step back and look at the ebb and flow of the US election and the risk trade, the Aussie weathered it all very well. That suggests it's a buy at some point no matter what happens tomorrow.
