AUD/USD orders: Asset manager demand still strong

Dealers report that asset and reserve managers are still looking to buy the AUD and that the amounts are quite decent. AUD/USD may look a bit overbought on the approach to 1.0450 but the bids near 1.0280/1.0300 are said to be sizeable. Looks like a range play 1.0300/1.0450 with a short-term bullish bias whilst this demand exists; if the bearish trendline breaks (somewhere between 1.0450/70 depending on your line-drawing skills), expect some of this demand to start chasing the market again.