Aussie took advantage of the US dollar’s weak tone following Friday’s soft US data, and rode to its best level since mid-December this morning. Aussie-dollar opened at $0.9004, in line with Friday’s US session high of $0.9005, in Asia today. It saw a minor retreat to $0.8985 early this morning before catching decent-sized bids from the $0.985/80 region. The par then recovered back through $0.9000 and broke above the US high to hit $0.9015 before pulling back again for a breather. A second wave through $0.9015 hit buy-stops, which carried the pair up to a late morning high of $0.9036, thepair’s highest since Dec. 12. Aussie-dollar was last at $0.9033 with further gains to then take aim at $0.9082, the Dec 18 high, with any further breaks higher to then shift the focus to the $0.9165-70 region last seen back in early Dec. Trailing stops are noted below the $0.8960 level with a close below needed to relieve the renewed bullish pressure.
