AUD/USD resilient; 0.8500 barriers still the key

AUD/USD is proving very resilient today, rebounding nicely after a dip below 0.8400 after the US data. Several rounds of AUD/JPY selling have hit the market today but the cross too is in solid shape, trading at 78.60, up from 77.55 lows.

Keep in mind that there are large option barriers still overhead at 0.8500, protection of which have helped stall recent rallies in the 0.8470s. AUD/USD trades now at 0.8456.