AUD/USD risk reversals retrace bearish bias

• AUD/USD risk reversals hit the two-week high.

Currently, AUD/USD one-month 25 delta risk reversals stand at -0.90 (AUD 0.90 puts) - the highest level since Feb. 5. The recent low was -1.20 (AUD 1.2 puts).

The improvement indicates the premium claimed by AUD puts has dropped somewhat over the last few days. The pick up adds credence to the rise in the AUD/USD from 0.7759 (Feb. 9 low) to 0.7989 (Friday's high).