Aussie today reversed some of the gains made in the wake of yesterday’s RBA statement after it peaked at $0.8943 overnight in the US. Aussie-dollar opened at $0.8925 and dipped to $0.8912 in the opening minutes of the session today. After some initial consolidation, the losses resumed after Asian stock markets opened, fueled by worries about emerging markets, and as risk sentiment deteriorated again. Aussie-dollar fell through $0.8900 and then slid further to $0.8874 before stabilizing. Aussie-dollar was last at $0.8893, with the brief move below last night’s $0.8876 NY low pointing to a move further down to next support at the 21-day moving average at $0.8840, with bids then coming in below that at the $0.8740/30 region. A close back below the 21-day would signal a false break higher and see focus return to the 2014 low at $0.8660
