The pair traded a low of $0.7995 in late dealings overnight but regained some poise heading into the Asia-Pacific open, and started at $0.8026 this morning. Aussie-dollar losses resumed in early dealings as the US dollar held on to broader gains, with the aussie then slipping to $0.8005. It recovered again and went up to $0.8027, aided by early gains in aussie-yen before extending the gains to $0.8040. Early market interest was on the release of the HSBC China flash PMI and fears of a weaker-than-expected number put the aussie under pressure again, with the rate then slipping to $0.8033 ahead of the data. The headline reading turned out to be better than forecasts and aussie-dollar ran up to a $0.8054 high. The move stalled as the market digested details of the data and pushed aussie-dollar back down to $0.8015. The rate was last at $0.8019. There are stops noted below $0.7985 while demand from exporters lie around $0.7970. Initial support is seen at $0.7962 (low July 16th 2009) and below there, $0.7944 marks the 61.8% Fibo of the $0.6006 to $1.1080 rise.
