The Australian dollar struggled ahead of a large set of offers at 0.9450 and began to sag at the start of US trading. The pair edged to 0.9409 before bouncing to 0.9418.
Buy stops are lurking above 0.9450 but the key level is 0.9461, which was the April high. The next large lay of offers is at 0.9500 along with a rumored barrier. More stops above 0.9520.
On the downside, bids are at 0.9400 but the size is small. Better demand at 0.9350.
The options calendar is modest tomorrow with about $330m in expirations at 0.9355/60.
