/www.fxserver.com/ THE dollar was broadly in line with yesterday's close, surrendering gains made overnight, although dealers said the local currency is likely to be range bound for the near term.
At 12pm AEST, the dollar was at $US0.6040/45, from $US0.6036/41 at yesterday's close.
The local currency has drifted lower in the morning session with talk of option related strikes and also some selling of the Australian dollar against the New Zealand dollar likely reasons behind the slide.
However, dealers said the market is likely to be little changed heading into two short weeks for the Australian market.
"It has been reasonably steady, it is very much range bound," ANZ chief dealer Paul McNee said.
"Not a lot of new news to drive the market at the moment, it looks to me that we might be going for an early Easter. I think the market is just winding back a little bit.
"I think we are going to continue to trade a bit of a range."
The dollar is expected to receive solid support around the $US0.5980 area, but should run into resistance around $US0.6085-90 ahead of a possible run at 0.6100.