Aussie traded a narrow $0.9396-0.9418 range Thursday and closed at $0.9412 in NY with aussie-kiwi selling largely keeping a lid on the aussie. The aussie started at $0.9414 this morning and then made early gains to $0.9420 high, just matching last night’s $0.9419 US high. It pulled back a bit as the market remained wary of the risk averse environment and touched a low of $0.9406. Aussie-dollar initially staged a small rebound to $0.9412 but the move then gathered steam toward the late morning, thanks to the broader US dollar weakness. Aussie-dollar climbed through the earlier $0.9420 high and powered ahead to $0.9439 in the early afternoon. The pair was last at $0.9434. Small trailing stops are noted below $0.9390 today with decent stops noted below$0.9320. The $0.9322-51 region remains key support with bulls initially targeting 2014 highs while this support remains in play. Aussie-dollar is now seen needing a break through the $0.9445 June 23 high before it can attempt a move through rumored sellers at $0.9450, to then bring the pair up toward its 2014 high so far of $0.9461. Topside stops are noted above $0.9465
