We have been watching the recent weakness in Bund yields and other European rates driven by further lockdowns across Europe. meanwhile, given we are NOT risk bears we continue to use the AUD as the risk proxy for equities. EURAUD has failed in 1.6550/90 zone multiple times this year which gives nice risk reward short setup. Sell at 1.6540, stop above 1.6600, targeting 1.6350 initially, potential for extension to 1.6150.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.