The AUD/USD has again pulled back from 1.0500 but I wouldn’t be getting too bearish just yet. There are plenty of stops reported above 1.0510 and the NZD/USD remains very well bid, which is certain to give the AUD/USD at least a little bullish impetus. I think we may get another test higher over the next few sessions but I’ll happily sell any rally towards 1.0600.
AUD/JPY is consolidating near its 97.50 breakdown level ahead of the BOJ meeting, and the technical outlook is short-term bearish in my opinion. This favours rally-selling towards 98.50 for a move to 95.50.