Wednesday, May 18, 2011

AUD/USD: Looks like a 1.0525/1.0700 holding range

Banks are reporting decent sized interest on either side of the market, bids are reportedly plentiful and solid below 1.0550 through 1.0500 and similarly the selling interest towards 1.0700 is also firm. Same dynamic as before, shorter-term players and corporates are seen on the bid whilst the topside is made up more of macro players probably reducing long positions.

Source: FXStreet

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