Interbank dealers report plentiful option-related stop-loss buy orders on the topside in AUD/USD, with 1.0275 and 1.0340 the next big levels to watch on the topside. Heavy selling pressure in EUR/AUD is allied with strong take-profit orders in EUR/USD below 1.2900 to ensure strong topside pressure on AUD/USD. The daily chart has been in continuation/consolidation mode for some time and currently is forming a wedge with parameters at .9900/1.0500 approximately.
