Seems to be a lot of interest in this one at the moment. We’ve just tapped out a high of 1.2402 just now and AUD does appear to be lagging in the crosses on a broader picture since the Greek debt deal announcement.
I’m guessing some of you may already be long of this from the recent lows around 1.2133 seen on Feb 7 and may well bag a few extra big figs if we break the 1.2480/00 area.
I’d personally be more likely to wait till we are on the 1.2500 handle before going long as we’ve seen a couple of false breaks that have fizzled out and retraced a few 100 pips.
If we can get through to the 1.2500 level we could be looking at a sharp move to the 1.3100
A few ‘if’s’ and ‘but’s’ i know, but one to keep an eye on i reckon?.
EUR/AUD’s around 1.2395