Today’s Q4 capex data provided some mild distraction for the aussie after several days of tracking Chinese yuan market moves. US dollar gains overnight pushed the aussie down to a $0.8957 low during European trade and to $0.8944 in US hours and it then continued with a weak tone in the early hours of today’s session opening at $0.8966. The aussie was holding relatively stable in a $0.8954 to $0.8973 range just ahead of the Q4 capex data but promptly fell through rumored $0.8925/20 demand after the data came in below forecasts. Aussie-dollar continued on to a $0.8916 low before stalling just ahead of bids at $0.8910 down to $0.8900. A relatively stable yuan market this morning also spared the aussie any major moves and the pair gradually recovered some of theearlier losses as the morning continued. Aussie-dollar was last at $0.8938, with support at $0.8910/00 region holding for now, and with $0.8870 coming in below that. Immediate resistance seen ahead at $0.9020, a break there to see the pair take on offers at $0.9040/50 region but key resistance remains at $0.9085
