The pair closed in NY at $0.8987 last night, towards the upper end of the day’s $0.8927-97 range before it then opened at $0.8991 this morning. Aussie-dollar saw a brief pop to $0.9002 but ran into sellers there, which triggered a move to unwind the aussie through the morning. Early losses were contained at $0.8976 but the euro gains then turned against the aussie, as euro-aussie cross edged higher. Aussie-dollar dropped to a session low of $0.8937 around mid-morning, about the same time as euro-aussie hitting its session high of A$1.4436. Aussie-dollar marked a mild recovery to $0.8964 but there was little appetite for further rebounds ahead of the weekend, and aussie-dollar then slipped back to then be confined to a $0.8945/60 range for the rest of the morning. Aussie-dollar was last at $0.8956, with any move below last night’s $0.8927 low expected to run into rumored demand in the $0.8925-10 range, with further bids also noted to $0.8900. Stops are noted above $0.9020 and $0.9120 today and on the downside below $0.8920 and more importantly below $0.8890 March monthly lows.
