AUD/USD rallied in a straight line form .9150 to .9275 much earlier this morning and the pull-back was limited to around 40 pips. Now we are back near the overnight highs and this pair is headed higher. We should see a test of .9330/50 later on tonight and whilst the first test may hold yet again, I wouldn’t be so sure this time.
The AUD is also looking friendlier on the crosses and with USD/JPY trading with a heavy tone, most indicators are pointing up.