13 Jan 2015
AUD/USD bulls stepping back from 0.8200, awaiting jobs data
FXStreet (Guatemala) - AUD/USD is currently trading at 0.8145 having made a high of 0.8200 and a low of 0.8128 and down 0.12% on the day.
AUD/USD has been fragile and stuck within a 230 range between 0.8250 and 0.8030. The pair had a fair crack of the whip overnight in Asia on the back of the Chinese trade data that beat expectations by some margin. The pair rallied up to test the 0.82 handle but offers kept the pair in check and we were back down half a cent and have drifted lower with some give and take to current prices.
The trade data had exports accelerate up to to 9.7% in year to December vs 4.7% a month ago, while imports came in at a slower pace of 2.4% vs -6.7% previous. We now await the Australian employment flows while the less committed bulls stand off. Targets on any further upside on a decent jobs report will need to break the 0.82 handle at least before follow through and subsequent longer positions adjusting for territory towards the October / January downtrends ceiling at the 50DMA and 0.8370 level are placed.
AUD/USD has been fragile and stuck within a 230 range between 0.8250 and 0.8030. The pair had a fair crack of the whip overnight in Asia on the back of the Chinese trade data that beat expectations by some margin. The pair rallied up to test the 0.82 handle but offers kept the pair in check and we were back down half a cent and have drifted lower with some give and take to current prices.
The trade data had exports accelerate up to to 9.7% in year to December vs 4.7% a month ago, while imports came in at a slower pace of 2.4% vs -6.7% previous. We now await the Australian employment flows while the less committed bulls stand off. Targets on any further upside on a decent jobs report will need to break the 0.82 handle at least before follow through and subsequent longer positions adjusting for territory towards the October / January downtrends ceiling at the 50DMA and 0.8370 level are placed.