FX:AUDUSD Australian Dollar/U.S. Dollar
Key intraday support in AUD/USD is located in the 0.9240/50 area with confluences of technical support and solid bids reported in interbank market. Risk appetite has slightly decreased amid renewed tensions in Ukraine, but unless the situation escalates, the Antipodean are likely to remain bid. A break of the aforementioned would pave the way for a test of 0.9200/10, which needs to hold in order to maintain short-term momentum. Stop loss orders in large size are located sub-0.92 and would very likely trigger momentum selling. For now, I favor buying a dip towards 0.9210/20 with a stop located at 0.9175, for a move back to 0.93. Aside from the situation in Ukraine, keep an eye on US markets and USD/JPY as well as indicators for overall risk sentiment.