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05/05/09
15:51
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Hi, man.
My take is there will be more probability of retracing at this level- It all depends on global equity market performance.
It would go up to 75 cents, but much significance of going down to 72.50 first.
If US market correnction -5% to 10%- happens, Aussie will get back to 68 cents, even 65 cents.
MY position of currency is Short Aussie at 73.50 - target 72.50 for a week or 70.00 for a months and Long on USD/CAD at 1.1740
ANd going to short Euro if us market correction starts.
Good luck.
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