For those that like to invest in currencies or were looking for protection against a U.S. Dollar decline, the suggestion was made to buy the Australian Dollar (FXA) on the channel breakout. (see post here) Since the breakout, FXA has gained a couple of percent, while investors are collecting a yield much higher than money market rates.
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Game Plan….Currency owners are long FXA with quality price action taking place after the breakout. Keep a 2% stop in on this position.