The post-RBA bounce was precisely 50% of the decline and now AUD/USD has run through stops below 1.0390.
The low print is 1.0380 and there are stops below. More demand comes ahead of the Feb 1 of 1.0361. Ahead of that level, there is talk of strong demand but the key level is 1.0345, which was the late-December low. There are also rumored stops below 1.0350.
Afterwards, is the 200-day moving average, which is at 1.0311 today.
