- Solid bids reported between .9535/50
- Trailing stops now building below .9450
- Heavy offers still reported starting at .9650 through .9725
When the AUD starts trading like this, grinding its way relentlessly higher, it’s pointless to try and pick a top. I know I gave up at .9250 and am really glad I did so. Dealers are of the opinion that if we trade above .9750 then a test of parity will be a near certainty given the amount of option interest which is building around there. This always acts like a huge magnetic force for prices.
