- The 38.2% retracement of the big downmove from 1.0580 came in at .9510, pretty much yesterday’s high;
- Real money funds were noted sellers above .95 cents;
- The previously pivotal .9335/50 will provide very strong support (see chart);
- On the crosses, AUD/JPY is bullish but AUD/NZD looks bearish still.
Sounds like a perfect recipe for range trading and as we are currently close to the middle of the .9350/.9510 range, patience is again needed.