This may sound a strange generalisation but it is true 90% of the time.
Ozzie and Asian traders but the OZ/US with an average trading range of 25 pips. Then around 3.30/4 pm the Europeans will do the entire range in say 20 minutes largely based on the opening of the futures in FTSE and Dax and make new highs or lows.
And finally the Yanks nearly always sell the OZ/US big time, I guess based on a thinner mkt as rest of the world has gone home.
But , the Yanks seem to love shorting the OZ.
Weird but true.
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