Thursday, April 7, 2011

Aus UE hits low, Euro rate hike tonight

So the AUD is facing some key headwinds
- china continuing to raise rates
- Australia going into a suprise deficit
- The current price run-up in both AUD and equity markets

The current trend is very bullish and very strong, so what did I do? I shorted the AUD/USD going with the fundamentals, however being early is just as the same as being wrong, so if the next two days of price actions are still bullish, I will likely close my positions.

Tonight's euro rate hikes are likely to provide some selling the 'news' action, especially if the corresponding euro statements are not as hawkish as every analyst is expecting.