22 Nov 2013
Flash: Sell AUD/USD for final target of 0.9325 - TDS
FXstreet.com (Barcelona) - TDS is recommending to sell AUD/USD at 0.9224, with final target of 0.8900 and a stop of 0.9325.
Key Quotes
"The taper trade is back on. Rising US yields are broadly supportive for the USD while the NZD and AUD, which have seen the bigger moves in response to the Fed’s balance sheet expansion since 2008, are likely most vulnerable to a taper."
"AUD/USD has already moved significantly in the past month so getting short here is a risky proposal. Moreover, we are near our year-end projection of 0.92. Still, we think tapering concerns increase the risk of a short-term overshoot to the downside in the next few weeks."
Key Quotes
"The taper trade is back on. Rising US yields are broadly supportive for the USD while the NZD and AUD, which have seen the bigger moves in response to the Fed’s balance sheet expansion since 2008, are likely most vulnerable to a taper."
"AUD/USD has already moved significantly in the past month so getting short here is a risky proposal. Moreover, we are near our year-end projection of 0.92. Still, we think tapering concerns increase the risk of a short-term overshoot to the downside in the next few weeks."