Intraday Market Thoughts

AUDNZD Dips to 1.30 in Battle of High Yielders

by Ashraf Laidi
Jan 9, 2012 18:50

The 2nd leg of our AUDNZD Premium short (standing for 3 weeks) finally hit it target after the overnight 100-pt decline, following disappointing November Aussie retail sales. November retail sales came in flat (0%), the weakest level since the -0.2% reached in June. Our first short in AUDNZD was issued in November, aiming for a final target at 1.3020. So where do go from here? AUDNZD has now fallen below its 55 DMA for the first time since October and is nearing its 200 DMA, which it last tested in November. For more detail on our latest Premium trades, including US crude, EURUSD & AUDUSD. please click here: NON-subscribers can click here to join:


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