The rate opened at $0.9292 this morning following Friday’s $0.9242 to $0.9308 US session range. The aussie was lifted by the initial reaction to the below-forecast payrolls reading but gains were not sustained. This morning’s focus on the ANZ job ads data was somewhat overstated with aussie-dollar barely moving from around $0.9284 after the data were released while a holiday in China today robbed the aussie market of any fresh leads from that corner. Eyes now on the ABS release of March Australian labor force survey on Thursday, with aussie-dollar last at $0.9285. Initial support is now noted at the $0.9263 level with bears now needing a close below to relieve the bullish pressure that is now initially targeting a test of layers of resistance in the $0.9333-51 region. Stops remain above the $0.9320 level with a break above seeing the aussie targeting the $0.9448 Nov 19 2013 high.
