Both the AUD/USD and NZD/USD overcame more major hurdles last night when they traded above levels last seen around the time of the Lehman crisis last year. Too many people like myself have been non-believers in this move; we have continually tried to pick a top and continually been proven wrong. A colleague of mine has consistently said that this AUD/USD move will see at least .8900 before a possible consolidation. Looks like he’s right. EUR/USD is headed back towards the 1.47 high seen last Decemberand now that various option barriers have been removed, the path should less bumpy. Cable and USD/JPY are the only pairs which are not so clear cut. Sterling continues to lose ground on the crosses and USD/JPY is probably being held up by semi-official intervention. (Watch out for big stops below 91.50 and again below 91.00).
Good luck today.
