• Short-covering lifted AUD to 0.7845 after RBA held rates steady
  
  
• 0.7795 = subsequent pullback low
  
  
• 0.7841 = late Asia/early Europe high
  
  
• Pre-RBA rate announcement range was 0.7751-0.7778
  
  
• 0.78 option expiry today. 0.7852 = 61.8% of 0.7914-0.7751