Aussie continued with its recent weakness through the Asian morning today after it slipped to an overnight low of $0.9198 in the US. Aussie-dollar started at $0.9224 this morning faced pressure from a broadly stronger US dollar tone. Late Thursday remarks from RBA Governor Glenn Stevens and other recent attempts by officials to talk down the aussie weighed on the currency and it eventually dipped again through support at $0.9200. The overnight low then gave way in the late morning, and aussie-dollar slipped to a $0.9178 low this morning. The move was also seen as aussie-kiwi broke below amajor support level at A$1.1200, to trade at a new low for 2013 so far and its lowest since Oct 2008. Aussie-kiwi is seen needing close above Wednesday’s high of NZ$1.1251 to relieve the current bearish pressure and see immediate focus shift back to the NZ$1.1370-88 resistance region. Aussie-dollar last at $0.9195, with the overall focus still on a continuation lower that targets the $0.8850-95 region with the 2013 low noted at the low end of that range at $0.8850.
