The pair started at $0.7764 this morning, toward the lower end of the $0.7747 to $0.7842 range seen in offshore markets. The aussue traded up to $0.7781 just before the Westpac-MI consumer sentiment release and then extended that to $0.7785 just after. It held near that high through the release of housing finance data but turned back down to $0.7774 soon after on reported pressure seen via aussie-kiwi cross. The aussie rebounded again after that, this time hitting a high of $0.7795 before light sell orders from Australian importers between $0.7800 and $0.7810 again quashed the move. Aussie-dollar then reversed direction as traders gave up on the attempts to drive it higher, with the pair then deflating toward the earlier lows. Aussie-dollar currently trades just off its morning low, at $0.7767 last. Ahead, hourly resistance remains at $0.7790, minor offers then seen above that, around $0.7795, with a break above $0.7800 likely to spur a move toward further sell orders at $0.7845/50. Support is noted at $0.7721, which marks the 61.8% fibo on the $0.7626 to $0.7875 rise, while resting demand from the exporter community lies between $0.7740 to $0.7750
