Aussie started at $0.9394 after falling to a $0.9376 low late Friday on remarks by RBA Governor Stevens in a local newspaper. The rate then found itself in a fairly narrow $0.9372 to $0.9396 range in the early hours of the morning. It marked the initial high after stock markets in the region opened higher and as demand from local names appeared. Aussie-dollar broke higher again in the afternoon, this time topping out at $0.9402 so far and continued to hold near there. The aussie was last at $0.9397, with immediate resistance then noted at $0.9459, ahead of offers at $0.9480. On the downside, the $0.9330/20 region is seen as an important support zone. The $0.9322 support remains key with a break lower potentially opening up the floodgates with the immediate focus shifting to the 200-day moving average at $0.9197. Stops are noted above $0.9410, $0.9460 and $0.9510, below $0.9320 and $0.9300.
