Aussie seeing solid stop activity through $0.8950 in thin trade as we approach the European open, as talk of continual corporate buying over the past two days has shorts in cover mode. The stronger JPY/USD is helping seeing selling across the board of USD positions, with the USD only stronger vs. the EUR and GBP. AUD/USD now has a $0.8978 high but stops are not finished with more seen above $0.8980 but $0.9000 should prove a psychological resistance barrier despite rumours of stops just above. AUD/USD now has a $0.8885/$0.8978 range, and sits up 60bps at $0.8971, and the weekly techs will look set to suggest further upside if a close above $0.8970 can be achieved.
