Strong rally this morning’s taken the pair from lows in Asia around 1.2365 through the 200 day MA at 1.2396 to just short of last Wednesday’s 1.2460 high. A break through here opens a move back up through 1.25530 (Sept 18 high) and could rekindle the rally towards back towards the 1.3000 area seen in mid May.
AUD/USD consequently being weighed down by the cross rally along with some ongoing sales from model accounts
EUR/AUD’s currently trading around 1.2437
