The pair started the session today at $0.8747 and spent the initial few hours in a $0.8745/49 range, before it then slipped to $0.8734. Some dealers pointed to some early selling of aussie-kiwi for the move lower. It paused there and then extended the lows to $0.8718 after the release of China’s CFLP PMI, which was slightly below the median forecast of 51.3 by economists surveyed by MNI. The release of disappointing Australian retail sales data was the trigger for the next drop in aussie-dollar, with the pair then sliding through $0.8700 and through the previous 2 session lows at $0.8694/84. Further selling ensued after $0.8680 was broken and stops were then hit for a low of$0.8666. That move down had players eyeing a break below the $0.8660 support (2014 low so far) and the rumored stops believed to be placed just below that. Aussie-dollar was last at $0.8681 with further bids noted at $0.8650, coming in above the July 19, 2010 low of $0.8633.
