The Aussie started the Asian session on a broadly firmer tone, getting a boost from its overnight rise to a $0.9245 high, the best for the year so far and highest since Nov. 22. Aussie-dollar opened at $0.9226 but ran into some early risk-off trades due to a soft start to regional stocks and it dipped to $0.9214 before recovering. The reversal off the low caught some by surprise and aussie-dollar then marched through the opening levels to $0.9231 and further extended to $0.9242 on talk of euro-aussie flows. Aussie-dollar has been held up near that high through the early afternoon, and was last at $0.9239, ahead of rumored strong offers atop last night’s high of $0.9245, starting at $0.9250, dealers say. On the downside, stops are noted below $0.9185, $0.9150 and move importantly below $0.9120. A close below the $0.9120 level would confirm a break back below the 200-day moving average ($0.9138) and hint at a deeper correction.
