Real money and corporates stll fading the rally but AUD’s looking firm as EUR/AUD continues tobe bashed lower, skidding to 1.2255 on the German court ruling.
AUD/USD picked up but stalled at 1.0500 which may hold barrier interest, but remains on a bid footing despite corporate offers in place up to 1.0510 and ahead of next tech resistance levels up at 1.0529 and 1.0545. Buy stops remain in place on a break of 1.0550.
On the downside we could see some option strike attraction at 1.0475 ahead of bids down at 1.0465/70 ( Asian sovereign buying at 1.0465 earlier) and 1.0430/40 with likely sell stops below.
AUD’s sitting around 1.0492 as the cross remains under pressure around 1.2282
UPDATE: Hearing a French name currently buying the AUD/USD
