The pair started the day today in a quiet fashion, held in a narrow $0.7751 to $0.7794 range as the US celebrated President’s Day. There were few data releases on tap today and the main focus was on the RBA Minutes at 0030 GMT. Aussie-dollar was pinned back below $0.7800 in early dealings as Greece news kept risk appetite under pressure, as did the euro’s retreat and a weak start in regional stock markets. Aussie-dollar was at $0.7760 as the RBA minutes were released and it first reacted with a dip to a $0.7743 low. The drop was brief and aussie-dollar then rallied sharply as the market digested to details of the statement. Aussie-dollar recovered to $0.7789 as market players read the minutes as having lowered the likelihood of another interest rate cut in March. The aussie found another leg higher in the afternoon and it ran through some stops above $0.7795 for a high of $0.7809 as the rates market priced in the chance of a March rate cut as less than 50%. Aussie-dollar last trades at $0.7802. Support lies at $0.7724 (13 Feb low), below there $0.7644 (12 Feb low). Resistance remains at $0.7821, which marks the 76.4% Fibonacci retracement of its $0.7878 to $0.7644 drop
