Decent bids reportedly under 1.0500 are so far supporting the AUD/USD which saw some recent pressure from AUD/JPY sales ahead of the conclusion of the 2 day BOJ meeting and tomorrow’s Australian CPI release, with analysts expecting a reading of around 2.4% for Q4 after a 2.0% reading in Q3.
EUR/AUD has also helping shore up the AUD/USD, having failed to break and hold above 1.2800 or attack the 1.2824 high seen last October.
Order wise AUD/USD bids lie in the 1.0490/00 zone ahead of daily cloud top (1.0475) kijun line (1.0472) and 55 day MA at 1.0460. Initial offers are seen from 1.0520/30 and 1.0550/60 with the tenkan line in between at 1.0542. The 1.0600 barrier remains above with large offers expected in front.
AUD’s trading around 1.0515
