Aussie retreated to $0.9327 low last night in the US and opened at $0.9357 this morning, but initially held near there at $0.9356 in early Asian dealings. Taking its cue from the early loss of risk appetite, aussie-dollar traded a $0.9344 low minutes after Japanese stock markets opened lower. Demand appeared later in the session and kept the aussie from further losses with the rate then climbing back to the initial morning high, where further demand from offshore names then helped to kick the Australian currency through some stop-loss buying and on to a $0.9367 high. The aussie spent hte rest of the morning then consolidating the early moves as it drfted back down toward $0.9350as Australian traders geared up for the coming weekend. Aussie-dollar was last at $0.9352. Any move below the overnight low is likely to run into rumored minor demand clustered around $0.9320, which corresponds with the 21-day moving average support and the May 7 low, with stops then noted below $0.9315. Up top, sellers are seen at the region of the this morning’s highs, in the $0.9365/70 area, but the main batch of chunky offers are noted beyond that, in the area approaching $0.9400.
