Sean Callow, Research Analyst at Westpac, suggests that holiday-thinned northern hemisphere markets don’t suggest that a range break is imminent for AUD/USD pair as it has traded a mere 1 ¾ cent range since mid-June, unable to break either 0.7300 or 0.7500. Key Quotes “Both leveraged funds and asset managers are already net short AUD, though leveraged positions are modest by historical standards.” “These positions could be extended if there is yet more bad news on US-China trade. With some justification, US equities have been resilient to the deepening trade tensions but Asia is not so sanguine.” “Industrial commodities are also feeling the weight of trade tensions. If this remains the case then AUD/USD should explore the weak side of the range, in the low-mid-0.73s.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/USD Technical Analysis: Oversold conditions prompt some short-covering ahead of NFP FX Street 5 years Sean Callow, Research Analyst at Westpac, suggests that holiday-thinned northern hemisphere markets don't suggest that a range break is imminent for AUD/USD pair as it has traded a mere 1 ¾ cent range since mid-June, unable to break either 0.7300 or 0.7500. Key Quotes "Both leveraged funds and asset managers are already net short AUD, though leveraged positions are modest by historical standards." "These positions could be extended if there is yet more bad news on US-China trade. With some justification, US equities have been resilient to the deepening trade tensions but Asia is not so sanguine." "Industrial commodities… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
