Trade Idea AUD

ADM6 Curncy (AUDUSD Crncy Fut  J 2016-04-29 09-09-09

Above is Aussie dollar.the technicals  don’t look all that Bearish,yes it may break a trend line and take out some recent lows, but nothing to  suggest an aggressive short position.What makes it a good sell is  the Stronger yen. I will pick up on the Morgan Stanley commentary to lay out case.if Jpy continues to strengthen it is inevitable for some of the  remaining carry trades to be unwound.This unwinding will weigh on the Aussie.What would give me added confidence for a short position would be if  Iron ore and Copper started to trend lower.This would give added fuel to a move lower in the Aussie. Lastly central bank meets on Tuesday,A good chance they sound  dovish and thus weaker Currency


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