There’s a well defended barrier at 1.0600 which isn’t currently being tested as the EUR/AUD keeps on course for a retest of late December highs around 1.2807.
AUD/USD’s had a quiet session in Asia with Japan on holiday but remains supported by a rampant AUD/JPY which is targeting 100.00 and August 2008 highs of 101.55 as the yen weakness continues.
Bids lie from 1.0520 down to 1.0500 with some sell stops just below ahead of further bids 1.0465/75. Offers remain in place from 1.0580 up to the documented barrier at 1.0600 with technical resistance above at 1.0625(Sept 14 high) . A break here likely to trigger buy stops and spark an accelerated move to 1.0690/00
AUD’s currently trading around 1.0552 after a 1.0526-63 range in Asia
