Aussie got an early boost from Bernanke’s remarks this morning after it opened at $0.9434 this morning. Aussie-dollar rose to an early high of $0.9448 as the dollar wilted on Bernanke’s comments on low rates and as the Westpac-MI leading index also provided the aussie with additional support, but turned back down again soon after. Aussie-dollar found minor support off $0.9420 but that also gave way later in the morning. Aussie-dollar extended the initial lows to $0.9409, exactly matching last night’s US session low and then dipped further in the early afternoon trading session. Aussie-dollar was last at $0.9398, with support then seen lower at $0.9360 and fairly large sell interest cited ahead from $0.9450 with stops then seen on a break above $0.9456. Thatalso corresponds with the 21-day moving average today with the focus now having shifted to a test of the $0.9543 Nov 6 high.
