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Aud/Usd: Asia open $0.7932, range....>

AUSSIE SUMMARY
MNI (London)
AUSSIE SUMMARY: Aud/Usd: Asia open $0.7932, range $0.7914-50. Europe open
$0.7936, $0.7932-54.
* Aussie opened Asia toward upper side of Friday's $0.7885-0.7954 range, where
broad-based US dollar weakness was the theme.
* Aussie came under early selling pressure in Asia, rate dropped from $0.7940 to
$0.7914
* Intraday specs established shorts on weekend news that N. Korea had fired a
number of short range missiles.
* Short-covering, and demand in Aud/Jpy then lifted Aud/Usd from $0.7920 to
$0.7950
* For the balance of the session Aud/Usd consolidated between $0.7933 to
$0.7946.
* Key-resistance $0.7967 (61.8% $0.8066-$0.7808). Stops parked above $0.7970.
Hourly support $0.7914.
* Aud/Usd touched a low of $0.7932 opening Europe then stepped to a fresh high
of $0.7954.
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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