Morning all..
We bashed up to 1.0710 on the strong IFO, but there some pretty heavy resistance up ahead with offers at 1.0720/25 and more up at 1.0745/55. EUR/AUD’s holding fairly firm around 1.2450 which is also weighing down a bit on AUD/USD.
That cross is still one to watch after an Asia spike to 1.2484 earlier, but we need a close above 1.2480 to start getting excited about a big leg higher.
There’s a AUD/USD option expiry at 1.0660 today which may well attract if the EUR/USD fails to break up through 1.3330.
AUD sits at 1.0695