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Limit sell order AUDNZD, biding time on EURUSD

Limit sell order AUDNZD, biding time on EURUSD

2011-03-24 19:00:00
David Rodriguez, Head of Business Development
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I like being short the Australian Dollar generally, but I think that the AUDUSD is a bit dangerous given intense US Dollar choppiness and indecision. I think the New Zealand Dollar offers comparatively attractive value as it continues to hold support against the Aussie Dollar and has stuck to a wide downtrend channel. I like setting a limit order to sell at 1.3680, setting a stop above important peaks near the 1.3785 mark. The stop is a bit wide, but I see risk that the pair could return to its recent troughs near 1.3450 and beyond.

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