It’s all been one way traffic this morning in Europe with the pair now off almost 100 pips from highs in Asia of 1.3165.
We’ve just popped down to a day’s low of 1.3079 and starting to retrace into yesterday’s strong rally. The move’s shored up AUD /USD nicely after yesterday’s mauling, and a retest of the cross’ 1.2027/8 lows seen in July can’t be ruled out just yet.
AUD/USD’s sitting at 0.9936 with EUR/AUD at 1.3095