Cluster, Can you point me to the RBA reference? Thats very, very interesting, considering Stevens public statement, ie;
"Questioned after Stevens's strong dollar comments, the Treasurer said the currency's rise was "one of those facts of economic life" under a floating exchange rate, but still emphasised the negatives.
"We do know that a higher dollar does have an impact on farmers and exporters," he said. "I do understand some people will do it really tough as a consequence of a higher dollar." Ref: http://www.theaustralian.com.au/business/opinion/dollars-push-to-parity/story-e6frg9p6-1225787722676
As for the aussie being overbought, its pretty evident to me it is in overbought territory now:
