A lackluster session for the AUD/USD as it opened in Sydney at $0.7820, toward the upper end of the $0.7743 to $0.7929 range seen yesterday. Stale shorts were the noted buyers below $0.7800 during the New York session, but aussie-dollar failed to make much progress in very thin markets today. The aussie went into the release of the Westpac-MI leading index around $0.7810 and showed little reaction to the data, holding at $0.7808 soon after. Near the end of the session, aussie-dollar had carved out a tight $0.7804 to $0.7831 range today and last traded at $0.7821. Traders have cited demand around the $0.7790 level. Initial resistance lies at $0.7845 (21 DMA), above there, $0.7882 marks the 38.2% fibo retracement of the $0.8295 to $0.7626 fall, hourly support lies at $0.7780. Traders also cited decent sell orders layered from $0.7830 to $0.7850.
