The 20-day MA is often an excellent pivot for the AUD/USD and it lies today at .9928. I suspect that we will get a test of this level during the Asian session. The daily close below parity is important from a psychological perspective and it was interesting to see the AUD/Gold move overnight.
We’re presently trading at .9980 which I think might be getting close to session highs on risk-off Friday. I’m tipping a .9930/1.000 trading range in Asia.
