AUD/USD fell back overnight after achieving the short-term goal of 1.10. The Bin Laden news and the margin hike in silver were a couple of factors that prompted the dip, but those factors have waned in importance and we are back in rally mode.
Rebounding equities and commodities along with a surge in support for Australia as a nation of discerning consumers of pop culture are helping prop the Aussie. 1.1010 is now resistance on rallies. We’re now at 1.0985.