Good morning everyone. As predicted the Aussie climbed to more dizzy heights yesterday, coming within 30 pips of the 1.0400 level. I got short at my first short level at 1.0350, and am currently in profit at about 30 pips. I am looking for the AUDUSD to test the 1.0400 area again before retracing all the way back to 1.0200. In any case if it hits 1.0400 I will be taking another short, or if it hits 1.0200 then I will unload the trade I am currently short with.
Tonights NFP will be interesting on the aussie, the adp had little effect in stopping its strong bid trend. Tonights forecast is for 191K more NFP jobs, if this number increases it will be interesting to see if it will be able to stop the Aussie. At the moment it looks like it is taking on all obstables.
Main news this morning to watch will be the China PMI which is at 0900 hrs Perth time. Because of the close trade relations between China and Australia this news can sometime have an effect.
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