AUD/NZD likely to be the focus again this morning

There has been plenty of focus on the crosses over the last few sessions with AUD/NZD hogging the limelight yesterday during Asian trade and EUR/GBP taking over the mantle during the London session.

I expect the AUD/NZD to again be the main focus, with stops reported below 1.0925 ands of course some risk events most notably the HSBC version of Chinese manufacturing PMI. My AUD/NZD bias remains heavily bearish.

There is large optionality at .9250 in the AUD/USD and that level is likely to act like a magnet over the next 3 sessions. NZD/USD looks quite comfortable around .8500 and I’d expect the market to continue to consolidate around here.