Aussie in a fairly narrow range over the Asian session, trading $0.8823/61. Most of the morning was spent recovering slightly after touching $0.8821 post-FOMC. Some unwinding of short AUD/NZD positions and some selling of EUR/AUD out of Japan helped through this period, but once the market thinned out, AUD was soon heading back towards the lows. After touching $0.8823 an hour ago, the market couldn’t follow through without decent volume, with stops left intact. Whilst the push towards $0.85 still looks likely on the charts, we head into some very thin holiday trading which should help ranges hold. AUD/US last at $0.8834, down 28bps on the day.
