Aussie opened at $0.9057 this morning and initially held around $0.9060 in the first few hours of the day, supported by an improved risk environment following Chinese data out over the weekend. Aussie-dollar however lost ground in the wake of the disappointing Japan GDP data and slipped to a $0.9040 low. The pair then turned higher again as the US dollar experienced selling pressure vs the euro and other major FX, lifting aussie-dollar up to trade a $0.9069 high. The pair was last at $0.9052, after ending in the US at$0.9034 in Friday. There were no major data releases this morning but the market is expected to look ahead to tomorrow’s RBA Feb meeting minutes for leads. Looking beyond today’s highs, the $0.9085 resistance level remains key for the aussie with stops noted above. On the downside, a break below last Friday’s $0.8966 low is likely to spark a move down to the 55-day moving average at $0.8922.
