6 Jan 2015
AUD/USD re-claims 0.81 after Australian trade data
FXStreet (Bali) - AUD/USD had regained the 0.81 handle following better-than-expected Australian trade figures, with the rate printing a session high of 0.8118, a rise of over 40 pips from the last NY close at 0.8080.
Australian trade balance came in at -925M in Nov vs -1,600M exp and -1,323M previous month, with exports standing at 1% vs 2% last, and imports coming at 1% vs -2%. The figures are a positive outcome for the AUD, although with the bear trend still well established, sellers looking to reset positions on strength are likely keep the correction quite limited.
From an hourly standpoint, AUD/USD needs a close above the 0.81 to aspire higher ground in the coming hours, with 0.8135 - 200 hourly EMA - as the immediate resistance ahead of 0.8150/60, area where strong offers should lie. On the downside, sellers should re-take 0.8080 first, with a break lower allowing 0.8060/65 ahead of recent trend lows.
Australian trade balance came in at -925M in Nov vs -1,600M exp and -1,323M previous month, with exports standing at 1% vs 2% last, and imports coming at 1% vs -2%. The figures are a positive outcome for the AUD, although with the bear trend still well established, sellers looking to reset positions on strength are likely keep the correction quite limited.
From an hourly standpoint, AUD/USD needs a close above the 0.81 to aspire higher ground in the coming hours, with 0.8135 - 200 hourly EMA - as the immediate resistance ahead of 0.8150/60, area where strong offers should lie. On the downside, sellers should re-take 0.8080 first, with a break lower allowing 0.8060/65 ahead of recent trend lows.