Archived IMT (2009.04.14)

Aussies latest 6-month high of 0.7320 draws nearer to the 200-day MA (currently at 0.7355). The long term benchmark has not been breached since August. The Aussie story is now well cemented into the retail sector and clients of major banks. The currencys strength is especially underscored via its limited pullbacks during risk aversion. Aussies outperformance of the Kiwi is partly explained by the limited scope of RBA easing relative to that of RBNZ. Aussie has yet more gains ahead of it, with 0.7450 standing as the key barrier.