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Forex Strategy: Staying Short AUDUSD

Forex Strategy: Staying Short AUDUSD

Ilya Spivak, Head Strategist, APAC

I sold AUDUSD at 1.0381, aiming for 1.0181. Risk appetite has recovered recently but the Aussie has been slow to capitalize even as the RBA projected a neutral bias on further rate cuts at this week's rate decision. I am expecting a return to risk aversion to rekindle selling pressure as "fiscal cliff" worries take center stage and will continue to hold short. A stop-loss will be triggered on a daily close above 1.0479.

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