AUD/USD has blown through 0.7300 with nary a fight this afternoon, rising strongly as are all the “risk trades” this afternoon as the dollar takes it on the chin. Hopes for strong bank earnings are furling fresh buying of “risky” assets today. The weak dollar has helped turn US equities higher after a weak start.
The next hurdle for AUD/USD is 0.7359, the 200-day simple moving average. 0.7366 is support, the top posted shortly after the New Year, broken overnight.
