AUD/USD session outlook
As you know I am short and bearish but there is no compelling reason to suspect that the recent consolidation around the 100-day MA is suddenly about to end. True we are entering thin end-of-year markets so expecting the unexpected is a wise thing to do. On the day, more reserve manager bids are reported at 1.0300 but we haven’t heard much regarding the size of these bids. Resistance should be firm near yesterday’s highs at 1.0380. Playing this range makes sense and I’m sticking with my overall bearish bias.