aceofswords
Long

Long The irrepressible AUD/USD From 0.7857 TP 1 At 0.81154

FX:AUDUSD   Australian Dollar / U.S. Dollar
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Long The irrepressible AUD/USD             From 0.7857 TP 1 At 0.81154
I think the "market game" for the AU is keep driving it up as high as possible , safe in the knowledge that RBA will eventually cut rates again. Meanwhile there is a fat layer of shorts trapped within the current PA some of whom will been short covering after the surprising upside continuation after the last rate cut failed to drive price dow in any meaningful way. Furthermore, the subsequent stops that were taken out when this failure occurred, also contributed to the rise in price. HOWEVER, poor CPI data from CHINA on Saturday morning , has yet to show its effect, which we will no doubt see during Asia/Asia open
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