Morning all,
A slow start here this morning with EUR, AUD and GBP all trading below the overnight low. I expect more of the same today with Asian bourses to take a negative lead from Wall street, putting pressure on the majors. I would expect some risk averson as we head into the numbers tonight.
AUD found the 9320-30 are tough to crack and acts as an important top today. Small buyers line the 9220-30 area with some stops below, and intraday sellers 9270-80, with serious selling to be done above 9320. I’m inclined to be a seller today for a move lower towards 9180.
EUR top at 1.5140-50 still in play and like the AUD should remain under pressure this morning. Under 1.5020 will see a move back to my target of 1.4950-60. We will get a better feel for direction as we head into the fix over the next couple of hours.
