Aussie started the day today at $0.9585, after a $0.9572 to $0.9601 US trading range on Friday. Early yen weakness gave aussie-dollar a lift via a stronger aussie-yen rate while initial talk of a $0.9600 option expiry also permeated through the market. Aussie-dollar however soon broke above the US high of $0.9601 and then jumped to a session high of $0.9618 as Japanese stocks opened higher, joining earlier gains in Australian stocks also. The risk-on environment continued to support aussie-dollar but rumored strong offers from $0.9620/25 were successful in capping the pair. The pair spent the late morning mostly off the highs but was held up above $0.9600. Aussie-dollar waslast at $0.9608. Immediate near-term support $0.9568, a previous hourly resistance level ahead of the 21-day moving average, at $0.9515 today. Any break below last week’s low sees the immediate focus shift to a test of the $0.9498 Oct 15 low. As daily tech studies correct from overbought levels a close below the $0.9498 level would see overall focus shift to tests of the $0.9220-80 region.
