AUD/USD has made a sustained break of 0.9000. Yesterday, it touched 0.9005 but it has been beaten back on three previous attempts. The move in the last few minutes hit buy stops above 0.9002 and shot to 0.9018.
More stops above 0.9030 with strong offers in the 0.9035/40 area.
Technically, the rally breaks through the 38.2% retracement of last week’s fall.
The market is starting to feel the squeeze of a lack of dovish rhetoric from the RBA. The Australian employment report is on the schedule today, so that’s the main risk.
