6 Dec 2013
Flash: AUD/USD has further to run until 0.89 target - TDS
FXstreet.com (Bali) - After a trade recommendation to sell AUD/USD at 0.9224 on Nov 21, with target of 0.8900 and stop of 0.9150, the FX Team at TD Securities thinks the trade has further to run to eventually hit target.
Key Quotes
"The AUD continues to under-perform, though not quite as broadly as last week. Soft domestic data (GDP) and more official “jaw-boning” of the currency (by the government this week) kept the tone defensive this week. We still think the sell-off has further to run nearterm."
"We have trailed the stop on this position a little lower again this week to look in some profit."
Key Quotes
"The AUD continues to under-perform, though not quite as broadly as last week. Soft domestic data (GDP) and more official “jaw-boning” of the currency (by the government this week) kept the tone defensive this week. We still think the sell-off has further to run nearterm."
"We have trailed the stop on this position a little lower again this week to look in some profit."