Aussie opened at $0.9268 today after a $0.9258 to $0.9283 range in the US last night. Early market action saw the pair inch up to a $0.9279 high, supported by rumored selling in euro-aussie cross, as the euro started the day on a soft note. The aussie move ran into offers lined up in front of the $0.9300 mark, and aussie-dollar retreated to around $0.9271 just as the RBA published private sector credit data for March, which were as-expected. The aussie then got a fresh boost later in the morning pushing past the $0.9280 mark for a $0.9287 high but stalled again amid talk of further offers seenhigher at $0.9320 and the 21-day moving average at $0.9322. Aussie-dollar continued to hold off the high as Asian markets entered their mid-session lull, and was last at $0.9285. A close above the 21-day is needed to confirm an easing of bearish pressure and see focus shift back to the $0.9395-0.9461 region. The downside meanwhile also appears loaded, with aussie buyers seen at $0.9220, just below yesterday’s $0.9228 intraday low and then at $0.9200, with stops expected below.
