Aussie started this morning at $0.9408, a touch above the US high of $0.9403 and right at the high for Wednesday’s global session. There was a mild pullback to $0.9398 in early dealings this morning but aussie-dollar recovered strongly after that, thanks mainly to the US dollar’s weakness. Aussie-dollar reached a $0.9415 high around midmorning before then unwinding those earlier moves and trickling back to a new low for the session at $0.9396. Aussie-dollar was last at $0.9399. The bounce from the 21-day moving average at $0.9360 last night sees the focus remain on the 2014 highs with a close below the $0.9322 June 18 low needed to end bullish hopes and see focus shift lower to the $0.9197-0.9233 region. Stops remain below $0.9320 and $0.9300 and above $0.9470.
