AUD/USD: Latest bids filled and it still looks heavy. USD/JPY nearing technical resistance.
Despite the solid demand from the BIS, the AUD/USD is still looking heavy. I’ve added to my long position below .9230 and I’m hoping that technical support in AUD/USD at .9220 and technical resistance in USD/JPY at 97.60 will be enough to repels those persistent USD bulls.
One slight positive for the AUD is that AUD/JPY is poking its nose back above .90.00.