AUD/USD: Fibo retracement at .9060 providing technical support
- End-of-month flows expected to be AUD/USD positive;
- Fibo support at .9060 (see chart) providing technical support;
- Flows in the crosses are overwhelmingly AUD negative with possible exception of AUD/JPY.
More of the same likely in coming days, with the AUD set to lose more ground on the crosses and especially against the GBP. I’d be wary of getting overly short AUD/USD at current levels but a break below .9050 should open up fresh space for further losses.