Another day of fresh AUD weakness this morning in the Asia-Pacific, following some unexpectedly downbeat data out earlier. The aussie started at $0.8445, just slightly lower from its $0.8463 high traded in the US last night. Initial dealings were muted with the aussie inching higher as the US dollar slipped vs the yen. Aussie-dollar got up to a $0.8467 high before the unexpectedly weak Q3 GDP data were released, unleashing a wave of aussie selling soon after. Aussie-dollar dropped quickly to $0.8420 and then hit minir stops on the break below $0.8400 before then trading a low of $0.8392. That marked a new low for the year so far and its lowest since July 2010. A mild recovery was seen after that with aussie-dollar briefly taking back some ground above $0.8400 and reaching $0.8421. Another round of aussie unwinding then appeared in the late morning and aussie-dollar slipped again to last trade at $0.8393. Initial resistance is noted on the hourlies at the $0.8469 level that previously supported with small stops now seen above $0.8475 and more substantial stops above $0.8560, $0.8620 and $0.8730.
