The pair closed in NY at $0.8719 last night after having traded a $0.8683 to $0.8760 range on the day. The aussie lost some ground early in the session as Asian stock markets traded lower and was further dragged down after the kiwi also retreated on the ANZ business confidence release. Aussie-dollar traded a low of $0.8694 this morning before it started to edge back up. It ran into another round of mild selling at $0.8725 after the release of the HSBC China final PMI, which came in a touch lower than the flash reading. Aussie-dollar again rebounded off $0.8708 and reached $0.8740 toward the late morning, helped in party by the US dollar’s declines. The aussie saw another spurt higher toward the early afternoon, extending the high to $0.8768 as kiwi also climbed. Aussie-dollar continued to hold near that high and was last at $0.8756. Stops are noted above $0.8840, $0.8900 and $0.8930. Aussie-dollar traded a low of $0.8684 during Monday’s session, and a break there is now expected to see large demand just below, from $0.8680, with stops then seen on a further break lower and larger stops noted below $0.8650.
