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Ataglance2

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Ataglance2

Re: None

Wednesday, 03/19/2008 7:45:45 PM

Wednesday, March 19, 2008 7:45:45 PM

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23:30 AUD/USD: Bounces As Shorts Cover Amid Talk Of Option Defense Sydney, March 20: The AUD/USD has made a strong recovery from the morning"s 0.9116 low after talk emerged that an investment bank was defending a 0.9115 option barrier. The market got short ahead of large stops building below 0.9100 and the option defense along with some local corporate buying for hedge settlement has forced the shorts to cover. Hourly resistance is found at 0.9170. The AUD/USD trades 0.9151/56.

Don



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