Bit of a slog but the pair’s clawing it’s way higher again to re-test yesterday’s high(1.0401). There are offers sitting in the 1.0400/10 area which are rumoured to include some sovereigns and possible RBA commercial interest and some likely buy stops above through 1.0425 (Nov 20 high) ahead of stronger offers 1.0450/60. (There’s also a 1.0400 option strike rolling off at the NY cut)
There’s some tech support at the 100 day MA around 1.0375 with bids sitting down at 1.0340/50 (real money, daily cloud base 1.0340), sell stops on a break, ahead of stronger demand down in the 1.0300/20 area which includes the 200 day MA at 1.0313.
