The AUDUSD has retreated back to the 9060 area after making a fresh high at 9096. Barrier sellers at 91c still appear to be active, but the local market doesnt have the fire power to take them on. Talk of investment banks selling aggresively at the top, coupled with weak confidence numbers has pushed the AUD lower.
The AUDUSD moved higher this morning on the back of NZDUSD jumping after the stronger than expected retail sales numbers. Expect 9100 to act as resistance for the rest of the day and support ahead of 90c. Intraday traders will most likely play 9050-9100 with a shorting bias.
