A muted session for aussie so far this morning in Asia, with many traders in the region still preferring to sit on the sidelines as the year nears its close. The aussie traded between $0.8877 and $0.8905 through the morning today, almost exactly matching last night’s $0.8876 to $0.8901 US trading range. It opened at $0.8899 but found little encouragement for a decisive attempt to rally through $0.8900, amid rumors of offers at $0.8930, just above yesterday’s $0.8929 high, with more sell orders then seen in the $0.8950/60 region ahead. Aussie-dollar last trades at $0.8889 with stops noted above $0.8935, $0.8960 and more importantly above the $0.8994 resistance with a close above this level needed to relieve the overall bearish focus that is initially targeting a retest of the 2013 lows and then a test of the $0.8762-71 region. Above $0.8994 wouldsee immediate focus shift higher to to the $0.9167 level.
