[AUD/USD]

[AUD/USD] reached the day's low of 0.6940 during the Asian session before recovering back to 0.6980 just before the European session. The pair jumped above the 0.7000 handle to reach an o/n high of 0.7030 before sellers came in to push the pair back to an o/n low of 0.6904 which was exacerbated by Aud/Nzd selling by fund types. However, a strong opening in the Dow sent the pair back above the pair back to an o/n high of 0.7052 as risk appetite came back to the fore. However, the see saw fashion in Wall St also saw the pair trading between 0.6970-0.7040 for the US session to eventually end at 0.6970. With the Dow closing up almost 90 points, the pair will likely get a slight lift from Asian stocks. Buying orders at 0.6930 by a local will provide support and selling orders at 0.7030 by a European name will keep the range this session ahead of Jan Conference Board leading index.