We’ve seen a low of 1.0447 in Europe this morning, but the general feeling is of some underlying firmness, could be partly due to the swiss franc strengthening again, and commodities generally firming. Monday’s high of 1.0514 will likely provide some offers but there are stops, albeit not huge behind that on a break up of 1.0520. A bit of momentum through here could accelerate towards 1.0560 and then 1.0700.
Should I be completely and utterly wrong there are a load of bids in the 1.0400/10 region from Asian CB’s, exporters. miners etc
Ozzies trading at 1.0500
