Short EURAUD on AUD short squeeze begins

The AUD has been the most hurt in the recent omicron and FED taper selloffs in the markets, but a strong rebound in US stocks and Oil and reports of Omicron variant being mild are the basis now for a move higher.

We are playing AUD against the EUR to remove the USD and the dangers of Friday's US CPI number and FED meeting next week.

Biggest risk to trade is a further tumble in Global stocks as AUD is move exposed than EUR and hence the big rally in EUR/AUD in the past few weeks.