Kay Van-Petersen
Kay Van-Petersen, macro strategist at Saxo Capital Markets, digests the market action seen in week 43 and gives his tactical positing. Van-Petersen favours a USD step back, sees gold consolidating, and believes that European equities are overheated.
Day trade
Trade view / 06 September 2016 at 6:02 GMT

Stronger highs add sentiment to AUDUSD

partner and technical analyst / 3 c analysis
United Kingdom

Yesterday’s trading in AUDUSD was trendless, sentiment closing little changed and inside Friday’s range.

However, buyers have returned to the market in Asia this morning, the rally ending a sequence of lower weekly highs, which points the pair higher for today's trading.

Management and risk description

Allow room to buy an intraday dip and raise stop to entry if the first target is met.


Entry: Buy at market and also at .7600, the last five-hour low.

0.7580, today's Asian low.

0.7692, the two-week high and 0.7756, last month's top.

Time horizon:
Today only.

AUDUSD 4 Hourly - recovery to losses
AUDUSD Weekly -lower highs ended
AUDUSD Quarterly - 7 year lows
 Source: All charts, CQG

— Edited by Adam Courtenay

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Non-independent investment research disclaimer applies. Read more
06 September
andrewloz andrewloz
Hi Steve, do you think this has more legs or is it going to bounce off the down-trend?
06 September
Steve Lucas Steve Lucas
Hi Andrew - there is no sell signal and Cad and Zar look strong, but as you say there is resistance here - for me I am short USDCAD for my weekly position, so have closed AUDUSD and will look again tomorrow
06 September
andrewloz andrewloz
Thanks Steve


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