Intraday Market Thoughts

Archived IMT (2011.01.20)

by Ashraf Laidi
Jan 20, 2011 13:53

Aussie continues to struggle across the board on a combination of inevitable Chinese tightening (from robust China data) and the ongoing economic drag from the floods. With Australian housebuyers starting to feel the pinch from higher interest rates and employment showing preliminary signs of cooling, the impact of higher Chinese rates should have a higher impact. Disappointing US earnings also helped accelerate Aussie lower on risk aversion. GBPAUD extends gains to fresh 6 week highs at 1.6140s, which is the trendline resistance from the June high as well as the spring lows. AUDUSD breaks its June trendline support, eyeing 0.9820 and 0.9750. 3 DAYS LEFT TO MY INTENSIVE LONDON WORKSHOP where I will go over the trade calls that worked and that did not


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