AUD/USD opened the Asian session at around $1.0025 and has been seen in a narrow range between $0.9994 and $1.0030 so far this
morning. Trading has been on a subdued level as Asian markets tread water ahead of this weekend’s Greek elections. The rate slipped back below parity on the news that Moody’s had downgraded five Dutch banks, but has since edged its way back higher amid an improved risk sentiment in the second half of Asian traded hours. The rate is purely trading on positional adjustment and subtle sentiment swings with some medium offers showing around $1.0032/36 and additional resistance camped around $1.0050. Strong demand for the pair remains around $0.9925 including an Asian named account that was a buyer around yesterday’s low. AUD/USD is currently trading $1.0027, up 4 pips from the NY close.
EasyForexNews Research Team