AUD/USD opened in Asia Monday around $1.0110 and has been subject to a trading range of $1.0091/$1.0135 so far. A win for the New Democratic/Pasok coalition in Sunday’s Greek elections has seen a cautious risk-on theme develop in Asia, with AUD/USD initially grinding to session highs of $1.0135 before paring back to $1.0091 in tandem with a correction back in the euro. Prices have since edged their way back higher to now trade at $1.0122, up a modest 37 pips from Friday’s NY close as Asian markets show reluctance to push on in an over aggressive manor with many waiting to see how European markets react to the outcome of Sunday’s elections in Greece. Some medium offers in Aussie are camped above around the $1.0185 area, which coincides with daily Ichimoku cloud base. Moderate bids show around Friday’s high levels at $1.0085/91, with some Asian named accounts revising bids around that area.
EasyForexNews Research Team