Aussie opened at $0.9360 this morning after a $0.93265 to $0.9368 range in the US last night. The rate then eased to $0.9341 in early trades before stretching the lows to $0.9335 as the morning went on. The losses were quickly erased after the release of March housing finance data and the pair was lifted back to $0.9365 as Australian stocks also gained. The pair continued to edge higher through the morning, touching a high of $0.9387 just before Japanese stock ended the morning session. Aussie-dollar held on to the early gains as the afternoon got underway and was last at $0.9384. For now, orderbooks appear sparely populated to the downside, with minor buy orders noted at $0.9310/00, and not much else below until $0.9250. Minor support has developed at the $0.9348 level but bears will be looking for a close below $0.9307 to ease the current bullish pressure.
