AUD/USD Analysis

A rather calm morning for the Aussie this morning during the Asia-Pacific timezone, with aussie-dollar holding within a $0.8902 to $0.8938 range today. The pair opened near the day’s high at $0.8927, and then eased in the early hours after the release of the AiGroup construction index, to around $0.8910. Aussie-dollar extended the fall to the morning low of $0.8902 despite a positive open in Japanese stocks, but managed to regain some composure in mid-morning as it climbed back up to $0.8927 and then to $0.8930. It stretched the gains to $0.8938 in the afternoon but offers ahead of $0.9000 have continued to limit the pair’s gains. Aussie-dollar was last traded at $0.8929, with the immediate near-term support seen at the Jan. 3 low of $0.8885, ahead of the 2013low of $0.8820