I’m getting the impression there’s a lot of mixed thoughts out there on this pairing at the moment.
Morgan Stanley has apparently closed it’s short AUD/USD position at 1.0270 this morning and has switched attention to the topside. RBCCM ( and MS incidentally) see a test of 1.0400 on the back of the strong jobs data overnight, and ING has been warning not to underestimate the AUD’s resilience.
That said, the AUD’s struggling ahead of 1.0300 and the 200 day MA sitting above at 1.0344. On the downside there are bids now at 1.0250/60 with some sell stops just below ahead of next tranche of bids down at 1.0200/20
AUD’s sitting around 1.0285 after earlier highs of 1.0294
