The pair opened at $0.8669 this morning and inched higher in early pre-Asian dealings. The early move ran aground at $0.8683 and aussie-dollar then spent the next few hours in a consolidative mode, between $0.8668 and $0.8686. Aussie-dollar broke higher around mid-morning to $0.8695, but a lack of any fresh, major economic news resulted in a lack of momentum and aussie-dollar then eased to $0.8680 again after that. Anther mild rally appeared in the late morning with aussie-dollar then trading up to $0.8701 before easing again. Aussie-dollar was last at $0.869 and is and seen needing a recovery through $0.8720/23 region of last Friday’s highs to encourage further gains. Above that, offers are noted in place from $0.8750. Topside stops are seen above $0.8800 with a close above this level adding support to the bullish case and confirming a close above the 55-day moving average at $0.8795 today.
