Early USD buyers stepped in this morning  and managed to move Cable and EURUSD lower accordingly to 1.6110 and 1.4290  while Oil and Gold trading at the day highs in contrast to the FX activity.

On the other hand, we may have a very interesting intraday range/ volatility in AUDUSD today. There are  two important  closing levels to bear in mind in daily charts at  0.8980 vs. 0.9010.

If topside breaks and prints a daily close above 0.9010,  AUD may have a rally up to 0.9108 ( 55 day moving avg.  and the topside of the short term bullish channel) at the first place, targeting 0.9170  resistance further on the topside.

While above is the bullish game plan,  I am fancy of  a close below 0.8980 and keen to sell on rallies to build up a short position intraday by selling at 0.9010-0.9020 with a tight SL at 0.9045, targeting 0.8915 and 0.8860 accordingly.

Three Aussie releases this week to bear in mind — building approvals, retail sales and the trade balance—