The NZD is still looking a bit soft overall and that is also having an adverse impact on the AUD. Iron ore prices were hit pretty hard yesterday after credit lines were tightened and the continuing unrest in the Ukraine is affecting risk sentiment.
AUD/USD is making fresh hourly lows but I remain very firmly in the buy-dip camp. I think the market is short AUD at the wrong levels, especially against the EUR, and I like the technical set-up in AUD/USD.
I am looking to buy small-ish at .9175 initially and see what happens from there.