The crosses were very busy again overnight and despite the fact that it was ECB and BOE events, pairs like AUD/USD moved quite significantly. Stops above .9335 were eventually targeted and triggered, that’s just the type of market that we are in.
The topside target for the bulls will now be .9425 whilst support levels are not really all that strong until back at .9200, so a few weeks of sideways trading inside this range would certainly not be any surprise. It will take some major USD or AUD event to drive us out of that range.
There is no major economic data today in Asia, so I would suggest fading 40 pip moves either side of the current .9335 level.