AUD/USD fresh highs: optionality is preferable - Nomura
|Analysts at Nomura explained that AUD has touched a multi-year high, and market participants are seemingly willing it to break higher.
Key Quotes:
"From a fundamental perspective, we remain of the view that the rally in the AUD/USD is on shaky foundations, and the market looks to be pricing in too much positivity on the AUD side and across broader risk markets."
"Rather than lean against the current move in spot, which is susceptible to a further near-term squeeze higher, we think optionality is preferable.
We enter an AUD/USD 2m 0.7670/0.7530 put spread."
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.