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The Australian Dollar (AUD) against the Japanese Yen (JPY) is an exciting pair for its relation to risk. The pair is often among one of the most highly correlated pairs to price action in US equities on a short to medium term basis. The pair generally tends to rise in a low risk environment on carry flows while the opposite is true when we see a 'risk-off' approach in the markets.
While most FX traders would evaluate the RBA decision through AUDUSD or AUDJPY, $AUDNZD is the more interesting pair to me. Relies more on the Aussie event risk. Today's advance puts us back up to the Sep-Dec bear wave midpoint and 200-day SMA https://t.co/uIln1nDGdK
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