The AUD/USD has put in a very strong technical close and with the fundamental picture also looking rosy, it would be a brave person who goes limit short this pair at the moment. This comes a day after some Bloomberg analysis said that the AUD is 27% overvalued.
More hawkish sentiment from today’s monetary policy meetings will probably see the AUD/USD re-test more option levels at .9500 and dealers anticipate the RBA stepping in to smooth price action if things get too volatile.
