The pair closed in NY at $0.9031 overnight after having traded a $0.8983-0.9049 range on the day. The pair found support around the 61.8% Fibonacci retracement level of the $0.8660-0.9505 move on the first dip below the $0.9000 level since March 20. IT started this morning’s session at $0.9028 and early attention was on a speech by RBA Asst Gov Kent in Sydney today. It traded an early $0.9028 low and then rebounded to a high of $0.9036, before it sliding back again to $0.9031 as remarks from RBA’s Kent hit the wires. Aussie-dollar held near $0.9030 as Kent took questions during the Q&A sessionand witnessed no major market reaction despite some questions on the aussie and rates. A sharp move higher was then seen after the RBA minutes were released, with aussie-dollar seeing a spike to $0.9045 and then to a $0.9054 high eventually. As the euphoria wore off, aussie-dollar’s losses resumed and the pair faded again to $0.9030, before late selling appeared again, sending the rate down to a new low of $0.9010. Aussie was last at $0.9013. Offers remain in place at $0.9050, while further defensive offers are expected ahead of a $0.9100 expiry due today, dealers say
