INTRADAY CONCLUSION: The crosses overall still look quite heavy in the AUD but the relief rally in AUD/NZD might cause a similar reaction across other pairs in such a heavily oversold market. The bear trend however remains very strong and it’s difficult to see why they should panic with the RBA tomorrow likely to cut rates? I’d play as close as possible to the edges of ranges in AUD/USD, .8850/.9000 on the wide.
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