AUD/USD opens in Sydney at $0.7767 toward the low end of the $0.7754 to $0.7821 seen in overseas markets, broad based US dollar demand the main theme. Local economic data were scarce, Ai Group Feb construction index were released early today although there was little reaction in the aussie market. Aussie-dollar held a $0.7770 to $0.7790 range through much of tyhe morning but inched higher toward $0.7800 as euro-aussie also made a run lower near the Tokyo fix. That set the aussie up for a further move up, and the pair then cleared $0.7800 as aussie-kiwi then also marked small moves higher. Aussie-dollar got to a $0.7806 high but couldn’t hold the gains. It slipped back in the late Asian morning before another fresh round if bids appeared late in the session, this time carrying the rate up to a $0.7816 high. It stayed bid through the rest of the day and was last at $0.7815. Support is noted at $0.7745 which marks the 61.8% fibo retracement of the $0.7644 to $0.7912 rise.
