Good morning Europe

If there were any options barriers or otherwise, they are toastado!

0.9750 goes and we hit a low of 0.9740.

Yesterdays break of trend line and 200 wma held on a initial bounce back from 0.9797 and we’ve broken down over night.

audusddaily 17 05 2013

The sustained break of those levels now open the door to further losses towards 0.9600 and further.

I managed to get my short in at 0.9850 so it’s nice to wake up in profit, and I’m going to let this sucker ride.

I reported yesterday that ACB’s were selling all the way down through 0.98 and flows from Hong Kong have done the latest damage. Sovereigns and CB’s are the buyers cited overnight but only small and not enough to halt this slide.