The Aussie rose last night, taking out a previous key resistance level at $0.9085 on its way to an eventual high of $0.9113, the highest level traded since Dec 11 2013, when it peaked at $0.9153. The aussie then kicked off this morning’s session at $0.9090 though market sentiment was cautious in early trades with players unwilling to test the area above $0.9100 again before a scheduled speech by RBA Governor Glenn Stevens. As the RBA governer spoke, aussie-dollar then edged higher through $0.9100 and took aim at the overnight high. It reached $0.9111 and then quickly reversed direction asStevens began talking down the aussie, saying aussie-dollar’s rate above $0.9000 is considered high for the economy. Aussie-dollar slid back through the opening levels and then went down to $0.9069 before recovering. Aussie-dollar was last at $0.9087 as trade flows dried up ahead of tonight’s US payrolls release. Stops are now noted below the $0.9000 level and above $0.9170 with the 200-day moving average coming in above that at $0.9168.
