Aussie meets first round of sell orders

Technical Analysis

Author: Matthew Bacon-Hall | audusd

There were a few cheeky offers at 0.7415 which have been filled.

No doubt those who witnessed the sharp sell off in Asia today and we sharp enough not to jam 0.7385 bids are looking for a place to short with a close stop.

AUDCAD is back at parity as well, which may draw a few prop traders ( assuming there are any left) out of the woodwork

I have noticed the tendency for cross positions such as this to be taken into high volatile scenarios ( such as NFP) to cushion USD volatility