AUD: Still soft on the crosses to start the week
- AUD/NZD is starting to spend a bit more time below 1.10 suggesting that more losses are possible;
- EUR/AUD is also consolidating above an important technical level at 1.5030 and more gains are favoured;
- AUD/JPY is trading sideways still and not following the lead from other JPY pairs;
- AUD/USD continually runs into solid selling interest during each Asian session for the past few weeks, and the downtrend whilst slowing, is showing no sign yet of reversing.
I’m leaving the AUD/USD alone. My tendency is to buy-big-dips and it feels for now as if there may be a few more big dips left in this pair.