Exporters running out of ammo
Asia-based traders cited by Bloomberg say orders from Australian exporters to buy AUD as it fell are lower than during the previous three dips. They say much of the repatriation demand has been completed.
Bids were filled on dips below 0.7060 but those might not be there next time.
In the short-term, however, 0.7080 options could be in play today.
Watch for sell stops below 0.7041.