A quiet start to the week for the AUD/USD this morning as it opened unchanged from Friday’s close in New York at $0.7762, before local corporate demand then lifted the pair higher to $0.7776 and then to $0.7782. Largely second-tier data releases earlier in the form of new vehicle sales failed to have any meaningful impact although aussie-dollar was already pulling back from the earlier highs as Asian markets got underway. Aussie-dollar slid to a session low of $0.7757 but bounced off that as the move uncovered demand just below from $0.7750. Aussie-dollar retraced its route back to the opening highs near $0.7780 and was tehn held back off $0.7784 for a few hours thereafter. The pair nudged higher in the afternoon, climbing to a high for the session at $0.7794 and last traded at $0.7789. Immediate resistance is noted at $0.7795 (Feb 11 high) above there $0.7820 marks the 76.4% fibo retracement of the $0.7875 to $0.7644 fall, support seen at $0.7724 (Friday’s low).
