The AUD/USD appears content to gravitate around the 200 day MA which currently lies around $1.0409. The pair continues to lag the EUR/USD rally as the cross recovers from record lows of A$1.2228 seen on Tuesday. EUR/AUD has since bounced to A$1.2465 this morning and we may now have seen now the lows for the short term. Large AUD/USD offers now lie up at $1.0450 with strong bids below at $1.0350/60. Large $1.3000 EUR/USD expiries are noted for today which may add further impetus to the cross bulls, but the move is still largely seen as short covering after a sustained fall from A$1.3800 in November. AUD/JPY eased from Y80.41 to Y80.17 in the session after opening at Y80.34. AUD/NZD also had a quiet session. After early highs of NZ$1.2995 the pair slipped to NZ$1.2967, before settling around NZ$1.2975 ahead of the European session.
EasyForexNews Research Team