I’ve spoken with a few traders today and the overwhelming issue they have with shorting the AUD/USD is the cost of the trade. This really is a pair where you need to catch the elevator at the very top just as it is about to go down a number of floors in a hurry. Even going down the stairs on this one might not be fast enough to guarantee a profit. With rates almost certain to rise again next Tuesday, the cost of the short trade will become even more prohibitive. I’m overall bearish on the AUD/USD for a move back to .8000 but with timing at such a premium, I’m not feeling lucky enough to get involved.
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