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17 Feb 2014
AUD/USD advances beyond 0.9050
FXStreet (Edinburgh) - The better risk-on tone in the global markets following upbeat Chinese data is pushing the AUD/USD beyond the 0.9060 level.
AUD/USD is 5-week highs
The Aussie dollar is trading on a positive footing after Chinese New Loans expanded to CNY 1.32 billion during January, surpassing estimates and more than doubling December’s print. “We expect the pair to be well supported on dips near term, with the YTD high of 0.9086 likely to give way”, observed Sean Callow, Strategist at Westpac. The next major event for the AUD will be tomorrow’s RBA minutes.
AUD/USD key levels
The pair is now up 0.18% at 0.9052 with the next resistance at 0.9068 (high Feb.12) ahead of 0.9087 (high Jan.13) and finally 0.9152 (high Dec.11). On the flip side, a breakdown of 0.9000 (psychological level) would target 0.8942 (low Feb.11) and then 0.8907 (low Feb.10).
AUD/USD is 5-week highs
The Aussie dollar is trading on a positive footing after Chinese New Loans expanded to CNY 1.32 billion during January, surpassing estimates and more than doubling December’s print. “We expect the pair to be well supported on dips near term, with the YTD high of 0.9086 likely to give way”, observed Sean Callow, Strategist at Westpac. The next major event for the AUD will be tomorrow’s RBA minutes.
AUD/USD key levels
The pair is now up 0.18% at 0.9052 with the next resistance at 0.9068 (high Feb.12) ahead of 0.9087 (high Jan.13) and finally 0.9152 (high Dec.11). On the flip side, a breakdown of 0.9000 (psychological level) would target 0.8942 (low Feb.11) and then 0.8907 (low Feb.10).