The AUD/USD started at $0.7925 this morning after offshore markets witnessed a $0.7855 to $0.7934 range overnight. Early focus was centered on the NAB’s Business Conditions and Confidence data for December, with aussie-dollar initially holding a $0.7914 to $0.7928 range. The NAB survey readings were a bit disappointing and aussie-dollar fell to a $0.7906 low soon after the data were out. Sentiment improved a bit and aussie-dollar retraced higher to $0.7931 after that. Aussie-dollar offers at $0.7940/50 drove the pair back down again before it staged another run higher in the early Asian afternoon. The pair broke higher this time and reached a new high for the session at $0.7948 before it eased again. Aussie-dollar was last at $0.7932, with offers between $0.7940 and $0.7950 said to still be in place while hourly resistance is seen at $0.7955, while above there, $0.8023 marks the 38.2% fibo retracement of the $0.8295 to $0.7855 fall. Support is at $0.7855 (yesterday’s low).
