The 0.9390/0.9405 area is huge resistance for the AUD. Expect barriers at 0.9400 to be defended in the near-term, adding to the import of the level.
As I just said in the comments, just because we are up against resistance in a strong trend, it does not mean you short the market. If you are long, by all means feel free to book some profits and rebuild longs if we break higher. Don’t mindlessly sell short though…let the market turn, then sell.
