Aussie started the session heading lower after opening at $0.8900. The pair then dropped to a $0.8876 low as a weak start for regional stocks fueled a rise in risk aversion. Aussie-dollar saw a slight bounce after the Federal Reserve’s Narayana Kocherlakota made remarks on the Fed’s taper plans, hitting an initial high of $0.8903. The release of Chinese trade data a few minutes after caused aussie to flip-flop, as it fell back briefly to $0.8889 and the rallying quickly through the earlier high as market players digested the details of the trade numbers to eventually hit a session high of $0.8911, which is just off the 21-day moving average at $0.8913. The pair spent the rest of the morning trading just off that high and was last at $0.8902. There’s been mentionof minor stops further up at $0.8920, which corresponds to the 5-day moving average, coming in ahead of more sell orders at $0.8950.
