AUDUSD has taken a hit down thru 88c, filling some small bids and triggering some stops below. Technically, AUD closed below the 100 day moving average last night, the first time since 17th March this year. Model traders will be looking to sell today and rallies towards 8820 will be sold into this morning. Overall its still sell the rally in the AUD, 8780-8820 should be the range this morning with bias lower to the 8750 area. Technical traders will be targetting below 86c now.
Personally I closed my shorts at 8950, but have been trading from the short side intraday.
