| Videos | Channels | Search |
Lambert: Why I’m shorting AUDUSD
The Australian dollar’s decline is expected to continue as the health of the United States economy improves. Clive Lambert is looking to short AUDUSD as current levels approach a key resistance level, formed by the currency pair's gap open two weeks ago. Strong US economic data out later this week is expected to serve as a catalyst for further declines in AUDUSD.
On Wednesday, the Reserve Bank of Australia once again stated the Australian dollar is overvalued and the bank may take steps to weaken the currency. The strength of the US dollar has kept the value of the Australian dollar down over the past few months, and this trend is set to continue with investors projecting positive retail sales figures and unemployment numbers out of the US on Friday.
AUDUSD prices jumped to USD 0.8736 overnight and according to Clive if levels go near this level again, an opportunity exists to short AUDUSD. He is looking to place a short at USD 0.8730 with a stop at USD 0.8765. He is targeting a move lower to USD 0.8650 and USD 0.8550.
Join the conversation below to be a part of the social trading experience.
Disclaimer
Saxo Bank Group provides an execution-only service. All information provided on Tradingfloor.com is solely for general information. Tradingfloor.com does not contain (and should not be construed as containing) financial, investment, tax or trading advice or advice of any sort offered, recommended or endorsed by Saxo Bank Group and should not be construed as a record of our trading prices, or as an offer, incentive or solicitation for the subscription, sale or purchase in any financial instrument. Saxo Bank Group will not be liable for any losses that you may sustain as a result of any investment decision made in reliance on information which is available as part of the Tradingfloor.com or as a result of the use of the Tradingfloor.com.
Please read our notification on
Non-independent investment research disclaimer
01:18 minutes
Tags: audusd, australia, australia cash rate, australia central bank, australia currency, australia economy, australia jobs data, australia rates, australia retail sales, australia us, australian, australian central bank, australian dollar, australian dollar forex, australian economy, australian rates decision, australian reserve bank, china, fx, fx audusd, fx changes, fx crosses, fx dealing, fx exchange, fx forex, fx interbank markets, fx investing, fx market, fx markets, fx options, fx saxo bank, fx spot, fx strategy, fx trade, fx trade idea, fx traders, fx trades, fx trading, fx trends, fx volatility, fx volatitily, fxmarkets, saxo, saxo bank, saxo bank saxo tv, saxo bank trading floor, saxo bank tradingfloor.com, saxo tv, saxo tv saxo bank, saxo tv trades, saxo tv trading floor, saxo tv tradingfloor, saxo tv tradingfloor.com, trade idea, trade view, traders tale, traders tale clive lambert, traders tale saxo tv, trading, trading fx, trading idea, tradingfloor, tradingfloor.com, tradingfloor.com insights, tradingfloor.com saxo tv, us dollar, us dollar index, us dollar index bullish, us economy, us fed, us federal reserve, us government, us growth, us jobs, us jobs data, us recovery, us retail sales, usa, usd