I've got an order to short aud-usd at .925. earlier than that and i'm still in waiting mode. many fundamentals are supportive of aud; lots of reasons it's the strongest currency performer in the world right now. from rising copper prices (partly because of the earthquake last week in chile, and the chinese demand for copper), to the muscular interest rate hikes, the australian dollar has a lot to support it. on the other hand, brutal heat and drought are punishing western australia, with serious effects throughout the economy.
i'm cool with going short but only nearer to historical highs.
as always, be over-capitalized and under-leveraged, stick to your guns, have stomach, and "take a position" and see it through....
good trading, everyone...
i'm cool with going short but only nearer to historical highs.
as always, be over-capitalized and under-leveraged, stick to your guns, have stomach, and "take a position" and see it through....
good trading, everyone...