Both the CAD and the GBP have had periods of strength recently but this hasn’t washed over into the AUD, which is quite directionless this week. It looked very heavy at 1.0300 and looked quite strong above 1.0400 yet both signals proved false.
There are quite large stop-loss sell orders now building below 1.0300 and this seems like the riskier side for intraday traders. NZ CPI in 15 minutes may also introduce some volatility.
