AUD staying heavy in early Asia
- AUD/JPY is trading toward the lower end of its consolidation pattern and a break below 99.30 could well set off a round of stop-loss selling.
- EUR/AUD continues to look extremely bullish and any dips back towards 1.3150 are sure to meet with welcome buyers (me included).
- AUD/USD looks set to target last year’s lows just below .9600 and short-term resistance should be solid now near .9750.
All told, its hard to find any reason to be long the AUD at this very moment.