The potential for lower rates ahead in Oz? Traders couldn’t care less. As long as a global economic rebound looks likely, Australia is perceived as one of the big winners given Neighboring China’s appetite for raw materials.
0.8200 barriers are the near-term target while congestion on the charts beginning around the 0.8275 level could slow the impressive climb. Bids are at 0.8150 and 0.8115 on dips. We trade now at 0.8186.
