Aussie started at $0.9237 this morning following Monday’s $0.9230/49 trading range. Early trading action saw speculators taking on rumored offers at $0.9250, which capped the pair since late last week. Aussie-dollar broke through $0.9250 ahead of the Japanese stock market open and cut through those rumored offers, triggering a number of stop-loss buy orders to $0.9260. It then extended gains and reached a high of $0.9265, a level which corresponds to the 55-day moving average before it backed off a bit. Aussie-dollar stayed bid through the rest of the morning and was last at $0.9259 while further sellers are noted ahead at $0.9280. Small stops are also noted above $0.9275 while decent stops are noted above $0.9320. Downside stops are noted below $0.9200 and $0.9170.
