AUD/USD: Adding to longs at .9075
- AUD/JPY support at 88.70 has broken but there has been no significant follow through.
- EUR/AUD has rallied over 250 pips since yesterday and is nearing resistance levels at 1.4740/50.
- The break-up acceleration level in AUD/USD was at .9050 and that level should provide solid support.
I reduced my longs last week at .9200 and am happy to re-buy partially at .9075. If it breaks below .8950 then I’m well-and-truly wrong.
Edit: USD/INR is making fresh highs and the continued panic in EMs is affecting AUD sentiment. AUD/USD trading near reported Sovereign bids at .9050.