At least for the moment..
Funds were the early sellers, but some solid bids appeared in the 1.0500/05 which is keeping the focus on the topside for now. There’s also bids down at 1.0480/90 with some sell stops just below, but these don’t look threatened with the EUR/AUD sitting just off all time lows around 1.1660
I’m hearing talk of buy stops now sitting in the 1.0530/35 area, but these are mixed in with reported commercial offers possibly from the RBA and option related supply ahead of the 1.0550 barrier.
I’d imagine there may be some stops just above the 1.0550 barrier, but there’s also some tech resistance from the 1.0556 high seen on March 27.
AUD’s currently sitting around 1.0510
