The darling trade for the ‘big revival’, the EURAUD, suffered at the hands of the friday’s news as the AUD more than held it’s own and let the cross drop through investment bank stop loss levels at 1.2800 down through the 0.382 from last November’s low to the recent high – only to bounce back to the mid 1.28s.
We will no doubt see new recommendations to reload: the big picture is still an uptrend targeting 1.38, especially if we get a close above 1.2950.
Daily EURAUD
