Despite strong business confidence numbers, the AUDUSD is pretty much unchanged, holding above 85c. There was rumored AUDJPY short covering by a US name overnight but since then it has drifted off from the 8570 area to 8525. The Shanghai Index trading down 1.5% at one stage saw traders sell off some risk. But the Index has since recovered, trading in positive territory as we speak, which should see the AUDUSD hold onto the 85c handle.
Support lies at 8500, resistance at 8580. Under 8500 we see it back to 8470-80(the previous top).
