The story goes that around the time of the spike down in AUD/USD in US trading (to 1.0457) came on a decent sized (rumored at $500m) sell order but it only added an additional 10 pips, not quite what they hoped for as demand at those levels was stronger than anticipated.
Adding to that, you have last week’s low at 1.0423 and the 100 and 200-day moving averages around 1.04/1.0375 and there is a case to be made for AUD longs. My feeling is that it would be prudent to wait for a break of 1.05 because of reports of consistent selling interest around there.
