The AUD looks fairly heavy this morning but then again it looked really well bid at 1.0470 as well a few short sessions ago! I’m short and overall am still happy to be short but I think we may see higher levels again before the big sell-off materialises (if at all). Reserve managers are expected to appear at 1.0350 so I’m not going to wait around for them; I’ve taken smalls back at 1.0386 and will buy more smalls at 1.0370ish and then see what happens from there.