AUD trader sitting short AUD/CAD at mom…tgt 1.0100 (100 DMA) And eyeing up the 0.9730 support in USD/CAD….. Tgt 1.0380 in AUD$
Feels AUD was supported by EUR/AUD selling yday post Trichet
Keeping close eye on mining tax headlines too now starting to brew again with it due to take effect on July 1.
{http://af.reuters.com/article/energyOilNews/idAFL3E7H93G320110609}
EUR/USD – “traded almost textbook fashion in Asia, retracing to the H&S neckline towards 1.4555 Few stops sat above there and the market got caught a little long searching for these. I have trimmed shorts on this dip, and see 1.4450 area as the next area to break (50% retracement of the May drop 1.4940-1.3970) for a move to 1.4340.”