CitiFX going short AUDCAD: FXWW

From the FXWW Chatroom: Recent AUD outperformance provides an opportunity to sell on the crosses. We now go short AUDCAD at 1.0025. We target a decline to new lows beneath 0.9750, with a stop loss at 1.02. While AUD is likely to benefit from USD weakness over time, this trade reflects the view that there is vulnerability for short-term underperformance given that expectations on a hawkish shift from the RBA risk running ahead of themselves.
View the latest market information in the FXWW Chatroom with a free trial.

Leave a Reply

Your email address will not be published. Required fields are marked *