Aussie Dressed up but where to Go?

by Ashraf Laidi
Dec 2, 2009 21:33 | 475 Comments

Aussie Dressed up but where to Go? - Auddec2 (Chart 1)

It may be unwise to think against the Aussie after the RBA raised rates for the 3rd time this year, signalling more tightening next year, BUT we cannot help notice the AUDUSD daily and 4-hr charts. The former failed to go near the years high despite this weeks hike, while the latter signals negative stochastics. Coming up tonight (0:30 GMT) is Aussie Oct retail sales expected +0.3% from -0.2%, which could potentially fail to prop the Aussie (in case of a rebound) in the event that Asian stocks take profitespecially following the negative close in Dow. And with S&P500 still failing to close above 1,120 (major 50% retracement) Aussie could be dragged lower. Shorting NZDUSD is an alternative to this trade, especially as AUDNZD is nearing the April highs. Key resistance remains at 0.9320 but downside remains ample, starting at 0.92, then 0.9110.

 

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Comments (Showing latest 10 of 475) View All Comments
ray
New York, United States
Posted Anonymously
13 years ago
Mar 10, 2010 4:38
http://www.dumblittleman.com/2008/03/7-signs-that-youre-living-in-denial.html
GaryD
United States
Posted Anonymously
13 years ago
Mar 10, 2010 0:48
Multi-year high pace of decline in Home Loans data downgrading outlook for Apr RBA move... short-term govt debt yields coming off multi-week highs as well. AUD may be going back below 91 here.
chloethebull
Posted Anonymously
13 years ago
Mar 9, 2010 23:03
nope i decided to short crude instead of playing anymore usdcad or aud..i think anything around 81.40--82 is a good trade..an kinda takes econ data outta the equation..an with the way the inventories are building each week were are the fundamentals to keep it above 80buk..wasn;t it a couple weeks ago we were at $69 for crude..lol..i think theres good $$ to be made here...i also played gold wrong first drop(25buks) i shoulda repositioned my trade expecting a bounce back up an 1120 area ohh well next time ..lol..thanks for letting me rambble gl pl
PippedOff
Canada
Posted Anonymously
13 years ago
Mar 9, 2010 22:39
everyone except the RBA. At 0.9140 already. Thank you Stevens!
sydneyjames
Sydney, Australia
Posts: 348
13 years ago
Mar 9, 2010 22:14
anyone is shorting aussie atm @ 0.9155?
ray
New York, United States
Posted Anonymously
13 years ago
Mar 8, 2010 1:53
aud/jpy also ready to POP
Callum
Singapore, Singapore
Posts: 179
13 years ago
Mar 7, 2010 23:57
Could AUD getting a further prop from M&A talks of "Arrow gets bid from Shell, PetroChina"http://uk.reuters.com/article/idUKTRE6262BO20100307
PippedOff
Canada
Posted Anonymously
13 years ago
Mar 7, 2010 21:32
BNZ and NAB Weathermen are relentless so far in Sydney Session. Expect Westpac to join in the cheerleading.

Heard there was a ticker tape parade in Sydney where the RAB were the Grand Marshalls, and the WEATHERMEN analysts were toted around in convertibles, waiving to their adoring fans and followers.
PippedOff
Canada
Posted Anonymously
13 years ago
Mar 7, 2010 21:28
WEATHERMEN ANALYSTS doing their thing in Sydney session-pounding the table and being HOMER ANALYSTS for AUDUSD and NZDUSD.
Karan
Singapore, Singapore
Posts: 83
13 years ago
Mar 7, 2010 19:17
kashmir. can i have ur address. id love to hire vietnamese hit men to slash your body and dispose it off in the gutter where u belong you low life, broke, third class scumbag. why dont u create your own forum and chat with yourself u sick psychotic dog.

sorry ashraf. this guy is driving me nuts.