My macro views haven’t changed in the slightest, I am still looking to sell the USD, EUR and JPY and buy the CAD, GBP, AUD and NZD.
Of course we are seeing some significant shifts inside of these 2 groups, with the USD making strong gains against the EUR and JPY, whilst the AUD and CAD have been strong against the GBP and NZD. All the usual swings and roundabouts of the FX market.
My favourite medium-term trade for now is to sell the USD against the AUD and CAD and I think we are nearing important levels.
I think USD/CAD may well take out 1.10 in this burst of USD friendliness but I am looking to sell aggressively if my resistance levels at 1.1050/75 hold up.
I’m hoping that I get a chance to buy the AUD/USD near .9150. The break higher in AUD/NZD and lower in EUR/AUD should help keep the AUD with a ‘bid’ tone.
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