AUD/USD is consolidating above another milestone, now above 0.90. Strong commodities, consistent demand for Aussie exports from China and the other regional manufacturing economies and firm monetary policy and a rapidly recovering economy( as embodied in a big drop in unemployment overnight have Australia in an enviable position (despite it’s large current account deficit, you spendthrift Aussies…) .
Technically, there is little resistance of note until the 0.9300/40 area now that we’ve blown through the 76.4% retracement of the drop from 0.9850. 0.8995 and 0.8950 are supports on pullbacks near-term.
Jeez, I wish I’d hedged Sean’s salary at 0.60…
