Typical early Monday morning price action and shenanigans saw a barrier option at .9200 tripped when prices dealt at .9204 on some interbank trading platforms. Most charts are showing .9199 as the high but I’m hearing from one of the Australian banks that the market did in fact trade above the figure.
I don’t particularly like the way AUD/USD is trading at the moment and a clean out does still look possible. Lots of stops building now below .9100 and again below .9060. On the other hand, this is the way the AUD/USD tends to trade. Starts going up, looks terrible for a few days as if it cannot go any higher, and then it suddenly accelerates higher again. Buying big dips still looks like the safest bet here.