4 Dec 2014
Stay short AUD/USD – DB
FXStreet (Barcelona) - Oliver Harvey, Macro Strategist at Deutsche Bank, suggests going short on AUD/USD which is currently breaking downside.
Key Quotes
“AUD/USD is the most trending currency and it is breaking new ground (to the downside). The currency is quite stretched on a relative basis from both an RSI and risk reversal perspective. However, on an absolute basis, it is only in its 76th percentile of RSI stretchiness. This suggests the move may have more juice.”
Key Quotes
“AUD/USD is the most trending currency and it is breaking new ground (to the downside). The currency is quite stretched on a relative basis from both an RSI and risk reversal perspective. However, on an absolute basis, it is only in its 76th percentile of RSI stretchiness. This suggests the move may have more juice.”