Aussie istarted this morning on a soft note on concerns about commodities and metal markets and over Chinese corporate defaults. Aussie-dollar fell from around $0.8979 to $0.8964 in early trades with Japanese names spotted leading the selling. Aussie-dollar continued lower as Japanese stocks opened down and after a weak Westpac-MI consumer sentiment reading. The pair remained under pressure as Chinese commodity and stock markets opened, touching a $0.8948 low. The aussie retreat was however contained as demand appeared off the low, with aussie-dollar then marking a small recovery to $0.8971 before it turned back again. The pair was last at $0.8952, with initialresistance noted ahead at $0.9000 with small stops seen above and more stops above the $0.9065 level.
