Aussie witnessed another dull session this morning after it traded in a $0.9322 to $0.9410 range during the US hours last night. It started at $0.9408 today and spent the initial few hours of the session trading mainly on either side of $0.9400. It slipped to $0.9393 ahead of the Asian stock market open and then rebounded to $0.9410 before trading back to $0.9398. Since then it has continued to shuffle within the early ranges, with only modest demand seen through aussie-kiwi cross, dealers said. Aussie-dollar was last at $0.9403 with previously reported offers at $0.9400 appear to have thinned out significantly while further up there’s talk of stops at $0.9425, some of these apparently have also been shifted up toward $0.9440. Demand meanwhile is seen toward $0.9320. Initial support is now noted on the hourlies at $0.9367 but a close below the 21-day moving average at $0.9322 would confirm a break lower with focus thenshifting to the $0.9191 to $0.9233 region.
