Aussie got a boost Thursday from the HSBC China flash PMI reading and managed a high of $0.9274 during the Asian session before retracing back during the US session overnight to a low of $0.9214. It started this morning at $0.9226 but a lack of any fresh market drivers confined aussie-dollar to a narrow range so far today. It saw a mild lift back toward the $0.9246 US high but only reached $0.9244. Rumored sellers continued to cap the pair around the $0.9275 resistance level with the aussie drifting back towards key support as a gentle broad based usd bid tone was also seen weighing. Aussie-dollar dropped back to re-visit the US low this morning but the losses were sufficientlycontained. Aussie-dollar then spent the rest of the morning shuffling within the day’s limits so far and was last at $0.9241. A break below last night’s $0.9215 US low is likely to see the pair re-test this week’s lows near $0.9209, with the $0.9210/00 zone seen as support, some talk of option-defensive bids clustered there, with stops then noted below. Topside stops are noted above $0.9250, $0.9280 and $0.9320.
