Australian dollar up 1.6 cents on the day.
AUD/USD put an exclamation point on 5 straight days of gains with a 160 pip rally. The high so far on the day is 0.8025 with the pair currently trading at 0.8017 . After flattening out over the past 3 hours, it made a marginal new high.
Bids:
- 0.7945/40
- 0.7913
- 0.7884 - 100dma
- 0.7850
Offers:
- 0.8025 - Jan 28 high
- 0.8035 - early-Jan low
- 0.8050/53
- 0.8100 - more stops above
I looked at why the Australian dollar is so strong earlier.
There was no great catalyst for the rally in the Australian dollar today and looking at the timing and consistent bid in the pair in European hours, I can't help but think it was a massive flow-driven move.
Looks like a relentless bid
