The pair saw a more subdued session this morning in the Asia-Pacific, after it opened at around $0.8777 today. Early US dollar gains vs the yen drove the aussie down to where it had closed in New York, at $0.8750. Dollar-yen’s falls off the fresh 7-year highs rpovided aussie-dollar with room for a recovery and it climbed back toward $0.8780. Aussie-dollar continued to rise as US dollar weakness continued, and it was then lifted to a $0.8793 high. Aussie-dollar however failed to make progress toward $0.8800 in the face of sell orders there. The pair saw a limited pullback to around $0.8783 in the afternoon but remained well-supported heading into the European open. Aussie-dollar last traded at $0.8789. Initial support is now noted in the $0.8714-60 region with a close below $0.8714 to shift the immediate focus back to the 2014 low. While this region supports focus has now shifted back to the $0.8885-0.8911 region where the Bollinger band top and Oct monthly high is located.
