AUDUSD has opened on its lows here this morning, clinging to the 8750 area. There are bids here, which havent been tested and the level does need to be respected. However with no bounce seen so far this morning, one can only assume its under a lot of pressure. Year end USD buying has affected the AUD and should continue over the next few days. On the day respect 8745-50, with sellers ahead of 88c to cap any rally. Under 8740 will see more stops triggered and a slide towards 86c will be the target.
Personally, Im still an Intraday seller on rallies.
