AUD/USD opened in Asian Thursday around $1.0195 and has been observed in a range of $1.0150/$1.0205 so far. Price action was on
the choppy side early on with the pair trading up to session highs of $1.0205 as the market digested the Fed’s decision to extend operation twist. AUD/USD prices have steadily declined since printing session highs, with the rate correcting back to lows of $1.0150 in the build up to the release of Chinese flash PMI data, moving from $1.0190 to $1.0170 prior to the data and trading session lows after its release. Some moderate real money Asian accounts are showing medium bids around $1.0140/45 whilst some heavy resistance is camped above around $1.0215/25 with buy stops above at $1.0230/40. More bids are also pinned in around $1.0107/12 on the approach to $1.0100 should prices start to decline. AUD/USD is currently trading around unchanged levels at $1.0157.
EasyForexNews Research Team