AUD fell on reports emanating out of the US that further large banks will be hampered in light of the credit crisis. As a high yielding currency, a fall in stock prices hampered the AUD ensuring it fell from day highs. Looking ahead, the RBA begin there two day meeting today with a decision due tomorrow. AUD is expected to trade in the range of 0.9120-0.9220.With good support seen at 0.9110 and key resistance is seen at 0.9240. Currency is expected to be on a mixed note for the day. Sensitivity indicator Stochastic and momentum oscillators are at neutral territory giving no confirmation on the trend.
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