AUD/USD opened the Asian session Friday around $1.0032, with prices in consolidation mode after yesterday’s steep declines. The rate has been observed in a narrow range so far this morning of $1.0032/65 after some large model fund selling was seen late yesterday in addition to some macro names. Prices have tentatively edged their way back higher from opening levels seen in Asia. Some light Asian accounts are expressing bids around the $1.0025/30 area, whilst the rate remains prone to model fund sellers, with some medium offers gathering above around the $1.0075 region and then larger offers at $1.0103. AUD/USD is currently trading $1.0059, up 25 pips from the NY close.
EasyForexNews Research Team