AUDUSD Another Buy Entry Opportunity
AUDUSD (Australian Dollar - US Dollar exchange rate) reached my posted target of 0.715 (0.7165 quoted) from the originally posted 0.707 quote on Thursday last week (here now it's Monday) and the quotes are back to 0.7111.
AUDUSD now looks even stronger than it did during my last target posted so the next target is a buy target of 0.72 for a 1.2% difference. The duration for the target is 1-6 weeks.
Seems the Australian Dollar is one of the best of the majors to choose to short the US Dollar, combined with the Euro (last trade idea I posted was EURUSD buy) and other currency pairs a balanced net short US Dollar position can be made. Outlook for selling the US Dollar (DXY, UUP) is 1-2 months.
I prefer AUDUSD exposure to the EURUSD exposure.
AUDUSD now looks even stronger than it did during my last target posted so the next target is a buy target of 0.72 for a 1.2% difference. The duration for the target is 1-6 weeks.
Seems the Australian Dollar is one of the best of the majors to choose to short the US Dollar, combined with the Euro (last trade idea I posted was EURUSD buy) and other currency pairs a balanced net short US Dollar position can be made. Outlook for selling the US Dollar (DXY, UUP) is 1-2 months.
I prefer AUDUSD exposure to the EURUSD exposure.