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Australian Dollar Cross Pick 03.12.2012

Australian Dollar Cross Pick 03.12.2012

2012-03-12 15:45:00
David Song, Currency Strategist
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After booking profits on our short AUDNZD trade last week, we’ve been waiting for a correction to sell the pair again, and it looks as though we will need to be patient once again as the relative strength index continues to track higher. Indeed, the upward trend in the RSI has kept us on the sidelines as we expect to see a short-term bound in the exchange rate, and we would like to sell the aussie-kiwi above 1.2950 as it appears to be caring out a lower top in March.

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