From Citibank:
In the opinion of our trading team, today’s bias seems less about AUD and more about the broader USD. We’ve seen average turnover in AUDUSD on our global platforms, which in fact has been dominated by unwinding of early European supply as the pair continues lower. This view also comes into play via our latest Global Flows update, with AUDUSD now giving one of the strongest sell signals in G10 (market is still long AUD).
On the main crosses, flow-wise we’re seeing a 54% bias to buying in AUDJPY and even flow in EURAUD.
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