Traders continue to marvel at the moves in AUD….
Hours of sideways action interspersed with the occasional eruption.
We saw that late this morning as we broke out of a 1.0025/55 range ad sprinted as high as 1.0127.
Traders are taking seriously the chatter that the big orders coming into the market are related to insurance payments headed down-under to pay for flood and cyclone damage…
Near-term resistance is at 1.0150. A resistance line is noted around the 1.0180 level, the top of a triangular consolidation. A break would be quite bullish…
