A moderately strong reversal seen this morning in the AUD/USD after it traded up to a $0.9112 high during the US hours following news of China’s liquidity moves last night. As the impact wore off, aussie-dollar had eased to close the US session at $0.9084 and started in Asia still in retreat. Aussie-dollar traded at $0.9075 where a mild bounce was then seen to $0.9085. Aussie-dollar was held up for a while as regional stocks started stronger and remained there as the Westpac leading index was released before it then turned back down again, for a low of $0.9061. A mild recovery seen since then albeitlimited to just $0.9076, with all eyes now on tonight’s FOMC decision. Aussie-dollar last trades at $0.9070 as talk of large expiries at $0.9000 and $0.9100 have also been keeping the aussie in check. The $0.9113 resistance is key today with a close above to shift immediate focus to the $0.9182-0.9229 region. Stops are noted above $0.9120 today and on the downside below $0.8980.
