AUD/USD opened the Asian session around $0.9938 and has been in a range of $0.9907-$0.9949 pressured by risk aversion as the market jitters surrounding Greece increase. The pair remained reasonably firm early as exporters were seen entering the market covering exposures alongside a U.S. investment bank, but the pair struggled to make an impression above $0.9948. Stocks across Asia started to get to grips with the uncertainty surrounding Greece and began to fall sharply. AUD/USD soon started to move in tandem breaking down to $0.9930 taking out stop sell orders around $0.9917, and then printed a new session low of $0.9907. Traders tout option related bids just ahead of options barrier $0.9900 with some decent size stops forming just below around the $0.9892 region.
EasyForexNews Research Team