AUD has bounced back this morning as equity markets stabilized and the SNB threw a life-line to the markets with their massive intervention in EUR/CHF. Traders are concerned the ECB could be loading up their cannons for a shot across the market’s bow.
Commodities have bounced along with stocks, helping steady the AUD, which had been smacked by continued long liquidation by leveraged accounts just prior to the rebound in the euro.
Traders report waiting offers in the 0.8570/80 region if AUD can gather some steam to the upside. It trades now at 0.8480 after 0.8530 about 20 minutes ago.
