AUD/USD stalls after 1.0550 barrier’s breached

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A recent high of 1.0552 saw an end to the 2nd barrier, but follow through since has been non existent with the pair languishing in the mid 1.0540’s. and little sign of the continuously talked about ‘phantom’ large stops just above. Offers are now seen in the 1.0560/70 zone from real money accounts  with the Sept 13 high of 1.0569 providing initial tech resistance.

There’s some rumblings of a barrier as well up at 1.0600 which  may well give the market something to aim for if the current risk run continues..

AUD/JPY  also flushed out a couple of barriers  at 87.00 and 87.25 enroute to session highs of 87.45, which is  reportedly just in front of yet another barrier at 87.50.

AUD/USD’s sitting around 1.0-541 with AUD/JPY around 87.34

2012-12-12T10:50:03+0000

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Pete Jackson

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