The 0.9200 level has been solid support for the Australian dollar since the start of April but it’s under pressure once again today.
The low so far is 0.9214 and bids stretch from there to the big figure along with a barrier at 0.9200. Stops hit below there with more below 0.9190 but they could cascade with large stops below 0.9180. That could be counteracted by bids at the 200dma at 0.9175.
If there’s a bounce, options expiring tomorrow at 0.9250 could pull the market higher.
