This level for me is the final hurdle and if we bulls can take and hold above there then I think we will see some more strong gains. On the other hand, if risk sentiment sours and this level continues to hold, then we might see a slow grind lower towards 90 cents again?
But I remain very bullish for now and I’m prepared to add on breaks.
One word of caution to the bulls, there are 2 RBA speeches set for today so we can expect plenty of verbal intervention!