charron replies to: AUD/USD

forex
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Hi Everyone,

I don’t really trade AUD/USD but Citi FX technical’s have gone long at 0.7745 with a target of 0.7915-90 with a possibility of 0.81.

Banks trades are not always correct but I thought I would just share it with you and see whether you agree with it. It is a technical based trade because fundamentally it does not make 100% sense, but then again dollar will not do to good this year as traders wanted 4 hikes and usd is not data dependant on the central bank decision.

My view is the AUD is bearish due to the central bank but then again commodities can propel it hence why it has not been dealt a knock out blow. So overall the view is neutral.

Hope this helps your trading views.

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