Aussie opened at $0.9395, near the top of the early $0.9378 to $0.9396 high si far this morning. It gravitated lower to $0.9390 in early dealings, then was driven further down to $0.9378 low after regional stocks opened. It held at $0.9387 a few minutes before the housing finance data release. Not much else on the agenda for the aussie and housing finance data failed to inspire a major move, keeping the aussie holding at $0.9385.Aussie-dollar last at $0.9384. Rumored demand at $0.9375 and $0.9350 are helping to contain the downside so far with stronger support noted at $0.9330/20. Initial follow through below $0.9320 may be limited due to the proximity of the Bollinger band base. While the $0.9322-38 region supports bulls continue to hold out hope for fresh 2014 highs but with the Bollinger band top noted at $0.9466 follow through above this level may be limited.
