in metals and resources suggest more upward bias for AUD and limited good news from financial releases in the US may limit any upwards momentum in the USD in the near term.
Should this metals recovery continue - AUD will continue to be against all pairs. We will see some caution from the markets and see a corrective retrace downward maybe around .79 area as China has been stockpiling iron ore and dumping steel around the world. Despite there being some major infrastructure projects coming up in ASEAN countries backed by China, dumping and quantity of stockpiles does not justify
China CPI coming and likely to have an impact on AUD - expecting a spike down before resuming upward trek. looking to buy on dips for targets above 0.780