AUD/USD been much the star performer last few sessions, with some talk on the street that the cause has been an M&A deal connection.
Peabody are buying a controlling stake in Macarthur Coal with amounts being mentioned in the region of 4-6 billion AUD. This along with hawkish comments overnight from RBA’s Battellino have kept the AUD tone positive.
Haven’t heard alot in the way of orders but support at the 100 day moving average at 1.0439 appears to be holding with a recent low of 1.0440.
On the topside, there are offers around the NY high yesterday of 1.0502 and the ichimoku cloud top at 1.0504, ahead of a retracement level around 1.0520.
Above 1.0520 are reported stops .
AUD’s at 1.0475
UPDATE: keep an eye out for a break of the AUD/NZD 200 day MA around 1.3044 and a 50% fibo retracement at 1.3049
