The Australian dollar sagged overnight after local stocks were hammered but is now retesting Monday’s 1.0440 high. A cluster of recent highs stretches from 1.0440 to 1.0450 and may cap the move.
AUD/JPY breaking 83.03 could also trigger some buy stops.
The Australian dollar was incredibly resilient last week and if sentiment can rebound, it’s the place to be.
