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Aussie/Dollar: European open.........>

AUSSIE SUMMARY
AUSSIE SUMMARY: Aussie/Dollar: European open $0.7562, range $0.7556-74, NY open
$0.7560, range $0.7544-0.7561
*As Aud/Jpy started to provide the momentum, rate moved through the Asia high to
$0.7574 but soon faded in late European morning.
*As NY entered the fray there was a small wave of dollar demand as the rate
slipped towards $0.7555.
*The corrective pullback extends through support from the Asia low
($0.7549) to $0.7546.
*As commodities continue to crumble, particularly XAU the rate has
followed suit, extending to further session lows of $0.7544 before bouncing back
towards $0.7555.
*With commodities remaining on the defensive, the pair has fallen back to the
session lows of $0.7544, before meeting demand. Traders are reporting stops on
the break of $0.7540.
*The market now looks towards the release of RBA minutes for direction.

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