The pair started this morning at $0.9329, just below the $0.9340 NY Friday close to start the new week and then traded a $0.9318-27 range in early dealings. It held at $0.9327, after an early high of $0.9335 a few minutes after the AiG manufacturing index was released and held steady after further releases, including the TD-MI inflation gauge and China’s semi-official CFLP manufacturing PMI. Aussie-dollar continued to hold just above $0.9330 until the after the release of Q2 business indicators, when it dropped a few more points before rebounding again to $0.9334. The release of the HSBC China final PMI then triggered a stronger reaction in aussie, with the rate bouncing off $0.9328 and rising to a $0.9342 session high. Aussie-dollar was last at $0.9338. The $0.9374resistance level remains key once again this week with a close above to end bearish hopes. Initial support is noted in the $0.9272-00 region with a close below $0.9300 to shift overall focus back to the 200-day moving average at $0.9176.
