I like the Australian dollar but it’s at the low of the day and trapped in the broad USD rally.

Friday’s low and the 38.2% retacement are within 15 pips and those levels are a good gauge. If they don’t hold, it’s harder to believe that some kind of powerful short-squeeze is in the cards this week.

There is also talk of strong demand at 0.9080 but stops below. The next layer of bids is at 0.9050.