Aussie grinned higher-April 09

AUD grinned higher tracking equity markets in the Asian session, before poor U.S data saw it rise up above the key US93c level. The Aussie Dollar also rose after reports of Mergers & Acquisitions pipelines, that China was interested in purchasing a larger stake in BHP . Looking ahead for the day are the consumer sentiment for the month of April with previous figures seen at -9.1%.AUD is expected to trade in the range of 0.9250-0.9350.Currency is having a good support at 0.9230 levels and key resistance is seen at 0.9360.Aussie is expected to be on a mixed note for the day as it is trading well above the fast and slow moving averages .But overbought levels are seen for Aussie in stochastic and Relative Market Strength Index giving room for a probability of small downside correction in the counter.