[AUD/USD]

[AUD/USD] rose to the day?s high of 0.6925 during the early Asian session before running into sellers bringing the pair to an initial intraday low of 0.6875. However, the slide was exacerbated on news that the US auto task force had rejected the restructuring plans by GM and Chrysler sending the pair plummeting to a fresh intraday low of 0.6820 during the late Asian session. The pair dipped further to a fresh o/n low of 0.6770 during the European session as Euro stocks followed Asia/Pac stocks & commodities lower. However, buying at that lvl by fund types saw the pair recovering back above the 0.6800 lvl into the US session where it traded between 0.6780-0.6830 for most of the session. The Dow closing off session lows allowed the pair to open this morning above the 0.6800 lvl. Only pte sector credit on tap today. Bids at 0.6750 by intraday specs & offers at 0.6860 by a local will dictate the range this session.