AUDUSD walking the same path as cable and the euro
- AUD mildly bid on better buildings data through Asia but came short of yesterday’s highs
- Topside failure around 0.7870 is one failure too many.
- 61.8 fib of Sep/Dec swing down remains untested at 0.7886
- Strong offers noted into 0.7890/0.7900. Stops above
- Could be a second week holding below 200 WMA at 0.7859
- Large option buying seen yesterday of 7900 calls exp 9th Feb. Poss RBA related (meeting 6th Feb). Expiries light today.
- Intraday support broken at 0.7825/30 now trying to become resistance. More likely building at 0.7845/50 (100 & 55 H1MA’s 0.7844/47) & 0.7860
- Next support into 0.7818 (200 H1MA) 0.7810 (55 H4MA at 0.7811) and 0.7800/05
- Stops noted on a break of 0.7800 with next support at 0.7775/80. 100 DMA 0.7777