On the flip side for the USD bulls this morning is the fact that strong AUD/USD support around 1.0420 is still holding. I’m sure there will be plenty of dip-buyers (probably incuding some Sovereigns but no confirmation as yet) who are happy to pick some up around the 100-day MA. A clean break below this important level opens the way for a return to proviously pivotal levels around 1.0250.