A relatively dull session for the Aussie this morning as markets in Australia were closed for a holiday, in lieu of Sunday’s Australia Day. Aussie-dollar ran into early risk-off activities and was held down below $0.8700 to a $0.8678 low. A lack of solid market interest kept the pair from re-visiting Friday’s $0.8660 US session low and aussie-dollar then rebounded later in the morning. It pushed past $0.8700 to $0.8710 around mid-morning in Asia where it paused for a bit. Aussie-dollar buying resumed after that, seenmainly ahead of $0.8650 and helped carry the pair up to a $0.8736 high. Aussie-dollar was last at $0.8717, with initial resistance noted at the $0.8724 level on the hourly chart, with a close above the 21-day moving average at $0.8878 to then help to ease the immediate bearish focus that is currently targeting the $0.8634 July 19 2010 low and then the $0.8068 2010 low beneath.
