It looks like the short-term market might be a little bit short and the AUD/USD is grinding higher ahead of the RBA statement in a little under 2 hours. The earlier surge in cable has the USD bulls on the defensive and with USD/JPY under 82.00 again, AUD/USD has found the path of least resistance to be up.
Resistance should be solid near 1.00 but as usual we can expect lots of stops just above.
