AUD Buyers

As most of you know that follow my blog I am keen trader and follower of the Australian Pairs. Lately its been a real interesting story of how far can they go before we get a much needed correction. Yesterday we got a big clue in answering this question, on a day which has seen strong weakness in the USD across the board, another new record for gold the Australian pairs limped along and added another 40 pips or so and then gave it all back pretty much straight away.

This to me only suggests one thing that we are completely saturated and there are no more fresh buyers left to lift the aussie pairs, now they may go higher in the short term but in my opinion the climb will be slow and painful.

This pattern is reinforced across the board in all the Aussie pairs, with absolute exhaustion being seen. I dont think its time to go shorting the Aussie just yet, but it can't be to far away now, with so many buyers eventually this will dictate that we must have sellers to keep the market moving.