Aussie traded a $0.9343 to $0.9383 range in the US last night and then moved higher after it opened at $0.9360 this morning. Aussie-dollar had showed little reaction to the announcement of the federal budget last night and early gains this morning wereinitially limited to $0.9370. It broke higher as the euro’s broad falls then saw euro-aussie tripping over some sell-stops, reaching a mid-morning high of $0.9380. Offers rumoredat the area of the NY high and believed to build in size to $0.9400 slowed the move briefly before the aussie then staged another rally through $0.9390 for a high of $0.9398. Aussie-dollar was last at $0.9394. Immediate support still seen at the 21-day moving average at $0.9319, with sell-stops seen below $0.9315.
