As we mentioned earlier this morning, all the weak stops were triggered in the AUD/USD below .7875 last night in early Europe and now there are lots of buyers emerging from the woodwork. The AUD/USD has jumped from .7880 to .7930 already this morning and one dealer I spoke with sees it going to .8025 today. I must say I’m not all that bullish AUD but then again I’m not seeing the flows.
Lots of buyers in the AUD/USD
Source: www.forexlive.com
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