AUD/USD’s looking firm again with a fresh high today of 1.0776.
EUR/AUD’s lending a helping hand as it crashes off again from recent highs of 1.2620 ish which apparently equates to a fibo extension. Aussie-yen’s also helping , attracting some good buying interest from Japanese trust banks in Asia today.
Looks like the downtrend on this EUR/AUD cross could be continuing …. so another look at the 1.2133 could well be on the cards again. Let’s see where it ends the week as a close below the recent all time lows could extend down towards the 1.1800/50 or even 1.1500 areas.
Orderwise, AUD/USD has offers at 1.0775/80 and again at 1.0795/10. Buy stops lie just above here ahead of strong resistance around 1.0850. Good support now sits down at 1.0700/10, with sell stops just below, ahead of major support at 1.0650
AUD’s sitting now around 1.0760
