The level holds a a lot of interest with importers stacking up offers in front ,and talk of sovereigns as well as option related offers in the 1.0480/00 bracket.
There are option strikes at 1.0480 and 1.0500 as well which could attract but likely buy stops above through the latter ahead of technical resistance at the Sept 21 highs of 1.0519.
A break through the rising trend channel resistance at 1.0550 opens the door to 1.0625 last seen on Sept 14
On the downside bids sit in the 1.0450/60 with some likely sell stops through 1.0440 now
AUD’s sitting at 1.0483 after early highs of 1.0490 in Asia
