"That cross has had a big move higher," she says.
"It offers an attractive level to enter the short position."
China's lowering of its GDP forecast already pushed down the Aussie, Bourdeau says, but there could be more of a reaction, and that would give the trade more of a boost. She does not expect much out of central bank meetings in either Australia or New Zealand, but she is watching an employment report due midweek in Australia.
Bourdeau wants to enter the trade at 1.2990 and look for a move to 1.2750, setting a stop at 1.3030.
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