AUD/USD is almost 100 pips lower compared with yesterday morning’s open and I’m definitely in dip-buying mode. I expect this dip to bounce off .9150ish and that’s where I’m concentrating my efforts.
AUD/NZD and AUD/JPY are both looking quite soft this morning so we may indeed get a test of .9150 in AUD/USD but based on recent momentum history, I’d be surprised if it happened in a straight line.
Next technical support in AUD/JPY is at 93.35 with resistance at yesterday’s 94.25 break-down level.