Explore eFXplus Derived Data That Drive Results
A Data Partner of:
Refinitiv
Aug 24 - 07:55 AM

AUD/USD - No Danger Of An AUD/USD Short Squeeze Yet

By Jeremy Boulton  —  Aug 24 - 06:39 AM
  • AUD/USD jumps 1.9% in 2 days reaching 0.7243 today

  • Pair had previously dropped a long way, most shorts are deep in money

  • Traders have built a short position since May 2021

  • May-Aug drop was 0.7891-0.7107, 38.2% that drop is 0.7406

  • AUD shorts covered ahead 0.7406 probably 0.7499 will be taken profitably

  • A short squeeze (distressed position unwind) likely only above 0.7600

  • 200-DMA is 0.7607 and 61.8% May-Aug drop is 0.7591

  • Profitable bets are often re-established, top picking is likely




AUDUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

Subscription

  • eFXplus
  • End-user license agreement (EULA)

About

  • About
  • Contact Us

Legal

  • Terms of Service
  • Privacy Policy
  • Disclaimer
© 2021 eFXdata · All Rights Reserved
!