MUFG Research is out with its latest trade of the week report and they say it’s time to sell AUD/USD.
The recommend selling the pair at 0.6400 with a target of 0.6050 and a stop at 0.6650.
“We are recommending a new short AUD/USD trade idea. We expect the USD to strengthen further in the near-term as global financial conditions continue to tighten. We still believe it is premature to expect a dovish Fed policy pivot,” they write.
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