Not much of a bounce back in the Westpac/MI Consumer Sentiment Survey, up 0.6% after a 4.1% decline in December. Meanwhile, the AUD/USD isn’t doing a lot. All the action is in CHF, JPY and EUR the last few days. And the NZD.
I’m expecting more range trading for the UAD/USD today.
Topside:
- 1.06 is a sell area with barrier option interest. With stops above 1.0625
- There is selling ahead of 1.06 too, 1.0586 is specific price point I’ve heard mentioned.
Downside:
- 1.0520/30 are Australian exporter bids
- The buying extends lower, too: 1.0505/15 and again around 1.0490/00.
