AUDUSD is the only pair that has made some gains this morning after the RBA’s upbeat comments on the economy which traders see as another rate rise in December. The other pairs are all static, trapped in narrow ranges for now, as we wait for the Nikkei to open and flows into the Tokyo fix. AUD traders have reported some early morning buying from local players with good sellers lined up at 9220-30. It feels as though market wants to take it higher, with buyers moving up from 9150 to 9180-9200 now. However a failure at 9220-30 will see AUD fall quickly to 9180. All eyes on the topside for now.
I will wait to see the price action between 9220-30 before committing myself. A convincing break above 9230 will see a push to the 9260-80 zone.
