Forex Strategy 03.27.2013: Stay Short EUR/SEK and GBP/USD, Long AUD/USD
I sold EURSEK at 8.7315 expecting Risksbank to shift to a neutral monetary policy stance in 2013. I added to the position at 8.6409 as a recovery launched in early January faltered. Prices are now turning sharply lower anew after another corrective upswing and I continue to hold short.
Finally, I have continue to hold long AUDUSD. My second target at 1.0412 has been met and I'm now looking for a break of 1.0483 to expose the 1.0578-1.0624 area.
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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