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Jul 03 - 08:36 AM
AUD/USD - High Risk Of An AUD/USD Short Squeeze, 100-DMA/cloud Key
First appeared on eFXplus on Jul 03 - 06:15 AM
  • Iron ore extends stratospheric rally reaching CNY 911.5, +142% in 144 days
  • In contrast AUD/USD down 5.3% in last 151 days
  • AUD/USD shorts have grown by 148% since Jan. 37% last 10 weeks
  • Risk of short squeeze on any break over 100-DMA/daily cloud 0.7033/35
  • Logically thick weekly cloud 0.7072-0.7425 should weigh heavily
  • Given AUD bets any close into weekly cloud may lead to a substantial rally

AUDUSD weekly Click here

AUDUSD daily Click here

Source:
Refinitiv IFR Research/Market Commentary

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