AUD/USD off to a flying start

Author: Pete Jackson | Category: News

Author: Pete Jackson

Thanks to the Shanghai composite soaring after yesterday’s dip  and were now nudging into an hourly downward resistance line  from the Sep 21 highs of 1.0519 which currently comes in around 1.0424. High so far has been 1.0425 and expected  RBA commercial offers are touted in this region with further resistance seen up at Tuesday’s 1.0462 high

AUD/USD’s currently sitting around the 55 day MA at 1.0417 and the  move higher has been backed by some strong buying in AUD/JPY from Japanese and US banks with the cross  back up around 81.00 from early Asian lows of 80.48