Aussie was weighed down last Friday by weaker-than-expected eurozone data which hurt risk appetite, with the aussie heading down to an eventual low of $0.8694 in the US before then grinding its way back to the $0.8750-90 region where it spent the last hours of the week. It started the new week this morning just above Friday’s US session high at $0.8771 but found further upside potential to be limited. A number of data releases this morning failed to provide any further boost to the aussie, and it gravitated to around $0.8750, just above the $0.8748 early session low following the release of building approvals data from the ABS and ANZ jobs ads data. Aussie-dollar continued to hold near $0.8750 through most of the session today amid muted trading interest. Techs noted, aussie-dollar’s repeated failures ahead of $0.8830 last week confirmed thebearish focus still firmly remains in place with a close above the $0.8826 level needed to relieve the immediate bearish pressure a little. A close above $0.8973 is needed to confirm a break of the 21-day moving average, falling daily channel top and the 55-day and shift overall focus back to the $0.9191-0.9288 region.
