The AUD/USD was dragged down early by the euro’s retreat, hitting $0.8066 after it opened at $0.8084 today. It held above $0.8060 for the next few hours but resumed its downmove as Asian stocks mostly opened in negative territory. Aussie-dollar fell to a session low of $0.8055 less than an hour after Japanese stocks opened but encountered demand from $0.8050, which managed to fend off further selling pressure. The aussie recovered further to $0.8075, a few minutes after the release of the Westpac MNI China Consumer Sentiment Indicator, which was up 1.3% on the month, at 112.5. Aussie-dollar marginally extended the rebound to $0.8078 before much of the morning’s interest began to fade, allowing the aussie to slip back. It last traded at $0.8074, and dealers have been warning of possible stops should $0.8050 give way, with more bids noted further down at $0.8020 and similar stops below that as well. Up top, minor aussie-dollar offers are noted at $0.8100, with stops above $0.8110, ahead of further offers at $0.8145/50.
