AUD/USD still maintaining upward pressure

Author: Pete Jackson | Category: News

Recent comments from RBA’s Lowe hasn’t perturbed the AUD bulls out there, and whilst 1.2500 continues to thwart the EUR/AUD bulls, there’s a reasonable chance that the 1.0400 handle will be regained in the AUD/USD.

There are some decent offers lying up ahead of the 1.0400 level and probable stops on a break up through 1.0411 (Oct 18 highs) ahead of sterner resistance in the 1.0450 area, where there was previous talk of a barrier.

Also note the recovery in AUD/JPY after post BOJ announcement falls to 81.99, with the cross back up around 82.40 just ahead of tenkan line resistance at 82.50.