Another day of strong gains for the Aussie today after it opened at $0.8985 this morning. It drifted off a few notches in early dealings, touching a $0.8973 low ahead of the release of Jan retail sales and trade data as rumored offers atop yesterday’s $0.8997 high continue to cap aussie-dollar’s gains. It traded back up to around $0.8983 minutes before the data and then broke higher after they were released. Aussie-dollar ran right through those reported offers and then through stops above $0.9000 within minutes. It traded a high of $0.9033 before stalling ahead of further sellers at the $0.9040/50 area.Aussie-dollar has since held up near the morning high, and was last at $0.9016, with the $0.9079-85 region remaining as key resistance beyond those $0.9040/50 offers. Ahead, any aussie move below yesterday’s $0.8934 Asian session low likely to see the pair extend initial decline toward $0.8920/10, where bids are then seen in place.
