A quick update on AUD following thestrong employment dataseen earlier today. Last week we highlighted the potential for AUD to carve out a new low, although part of the process involved establishing a new range before breaking higher. Having since respected key support and bounced, recent price action appears promising in our view. We can see on the daily chart thata bullish piercing line marks a swing lowand confirms the support zone at 0.7160/82. With a swing low in place we’re hoping this trend can now develop and, encouragingly, the strong trajectory of the bounce meansa break above 0.7315 is back on the radar. A ... (full story)