Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:"Times New Roman"; mso-fareast-theme-font:minor-fareast; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin; mso-bidi-font-family:"Times New Roman"; mso-bidi-theme-font:minor-bidi;}

The risk on market was back in vogue and currency pairs suchas the Australian dollar benefited.  Thecombination of an effective rate cut from the Chinese central bank along withthe coordinated announcement of a drop in dollar swap interest rates propelledthe AUD/USD upward nearly 3 big figures.

The AUD/USD sliced through the 50-day moving average near1.0250 and is poised to test target resistance near the 200-day moving averageat 1.04.  A break of this level willlikely see a test of 1.08.  Support onthe currency pair is seen near 1.0250 and then again at .9775.

AUD/USD