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. After much deliberation, I am also opting to hold my EURUSD short for the moment.
Forex Strategy: Stay Short AUDUSD and EURUSD
2012-12-03 11:01:00
Ilya Spivak,
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
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