Here is how the orders for the Australian dollar look for August 9, 2013:
- Offers 0.9190/0.9200
- Offers 0.9175/80
- Offers 0.9140/50
- Initial offers 0.9120/25, with some trader stop loss buying building above here, not huge though
- Initial bids 0.9085/95
- Bids 0.9070/75, with stop loss sellers below 0.9070
- Bids of better size 0.9050
- Bids 0.9000/10
Also, check out Ryan’s Technical levels 8 August post from the London morning, some of the AUD levels have since been superseded by market action, but most of the levels there are still directly relevant.
The Australian dollar has looked bid all of this week and I’m still erring on that side. Watch for some longs profit-taking later in the European and New York sessions as the week winds down, but if pullbacks in the AUD are limited then its setting up for a bid week again next week.
Also, be aware of the Chinese data due today and the RBA’s Statement on Monetary Policy – these will be keenly watched by the market.
