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DailyFX Home / Analyst Picks / Ilya Spivak

Forex Strategy: Stay Short AUDUSD

By , Currency Strategist
04 December 2012 11:01 GMT

I sold AUDUSD at 1.0381, aiming for 1.0181. Risk appetite has recovered over recently but the Aussie has been slow to capitalize amid swelling RBA rate cut expectations. In this environment, a likely return to risk aversion is expected to be all the more punishing and I will continue to hold short. A stop-loss will be triggered on a daily close above 1.0479. I opted to hold my EURUSD short earlier in the week but the trade has now stopped out on a break of trend line resistance.

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04 December 2012 11:01 GMT