The pair closed in NY Thursday at $0.9099 after having traded a $0.9089-0.9218 range on the day. Aussie-dollar then opened at $0.9100 this morning and early dealings saw the pair trade a touch lower to $0.9086 initially, just off support at $0.9083 the 50% retracement level of 2014 move between $0.8660 and $0.9505. A brief bounce followed and aussie-dollar edged up to $0.9095 as few minutes before the release of China’s money supply and new loans data. The market then drove aussie-dollar through rumored stops at $0.9070 after the data and it sank to a $0.9060 low, its lowest since March this year. Since then, there’s been little recovery off the low, with aussie-dollar last at $0.9068. Initial resistance is noted at $0.9142 with stops above $0.9150 and $0.9250 today.
