Melbourne Cup title-holder Dunaden has assumed favouritism for this year's race following his unlucky second in the Hardwicke Stakes at Royal Ascot.

TAB Sportsbet promoted the French stayer to $16 ahead of Lucas Cranach and Mawingo, keeping him safe in spite of trainer Mike Delzangles hinting he would not make the trip to Australia. Red Cadeaux, the closest of seconds in the 2011 Melbourne Cup, was at $26 after his Hardwicke third.

The 12-furlong (2400m) race was won by Sea Moon, with Dunaden running home to finish second after finding trouble on the home turn. The Sir Michael Stoute-trained Sea Moon is not among the Melbourne Cup fancies and will be seen next in the King George and Queen Elizabeth Stakes on July 21, also a possible target for Dunaden.

"He was a bit unlucky because he was stuck when the horses slowed up," Delzangles said. "He quickened very well and the King George is a possibility."

Trainer Ed Dunlop was again proud of the consistent Red Cadeaux and said he would be primed for another Melbourne Cup bid. "He ran a very good race," Dunlop said. "Dunaden has now beaten us three times, and I think he's proved he's the better horse.

"Hopefully we won't have to bump into him too often. We'll freshen him up and give him one more run before going back to Melbourne."