The pair traded in a $0.8602 to $0.8642 during the US hours last night and found support off that low as it headed into the NY close. It started at $0.8618 in the Asia-Pacific this morning and quickly encountered further selling as the dollar resumed its march higher against the yen. Aussie-dollar slipped below the overnight low of $0.8602 and then traded an initial low of $0.8590 as dollar-yen continued to rise but then rebounded to $0.8617 within the next hour. The recovery was not sustained as aussie-yen weakness, along with other yen crosess, weighed on aussie-dollar, with the pair then slipping back below $0.8600. It went to $0.8587 and briefly recovered as dollar-yen continued to weaken but eventually sank to a $0.8570 low in the late morning. Aussie-dollar was last at $0.8576 with recent failures to close above the 21-DMA ($0.8703) having returned focus to the key $0.8540-66 region. Resistance is at the $0.8650/52 region with sellers then at $0.8670/80. No major Australian data due today but RBA Dep Gov Philip Lowe is due to speak at an Annual Australia Business Economists Dinner in Sydney tonight at 8:05 pm (0905 GMT)
