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(M2) Correction Extends


Late Session Rebound


(M2) Corrective Cycle Remains In Play


(M2) Gains Still Considered Corrective

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AUSSIE SUMMARY: *Oct3 Aussie-dollar open $0.7827, range $0.7792 to $0.7835
*Aussie opened in Asia toward the middle of yesterday's $0.7796 to $0.7848
range, where consolidation was the theme.
*After a slow start, general US dollar strength took hold amid firmer US rate
yields, there were also reports of model accounts buying US dollar against a
basket of currencies. Aussie dropped from around $0.7830 to $0.7809, with
Aussie-yen demand providing a cushion
*Ahead of the RBA policy decision the Aussie consolidated within a $0.7811-22
*Surprisingly, the Aussie slipped lower from around $0.7818 to $0.7792 following
the RBA statement, at first glance it looked unchanged, they pointed out a
rising Aussie posed threats to growth and CPI, but nothing they haven't said
before. Aussie was last at $0.7800
*Initial support is located at $0.7772 (100-dma), while hourly resistance is
found at $0.7822.

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