Aussie closed in NY Wednesday at $0.9303 after having traded a $0.9263-0.9320 range. The aussie had received a leg up in NY following the softer than expected US retail sales data which resulted in the aussie closing above the previous $0.9292 resistance level. The aussie opened at $0.9305 this morning and traded a high of $0.9310 soon after but followed up by backing away again to a $0.9298 low, almost matching last night’s $0.9292 seen during the US session. Aussie-dollar dipped further to $0.9295 after the release of MI inflation expectations, a move which then had traders targeting rumored stops just below. These were eventually triggered and aussie-dollar extended losses through $0.9290 for a low of $0.9288 before bouncing. The pair was last at $0.9296 with chunkier stops noted below $0.9230 and $0.9200. The $0.9374resistance level remains key with bulls needing a close above to confirm a break of 21, 55 & 100-DMAs with focus then shifting to the$0.9474-0.9505 region. Stops are noted topside above $0.9375 and $0.9420.
