20 Jan 2015
AUD/USD caught in limbo above 20 DMA
FXStreet (Guatemala) - AUD/USD is currently at 0.8175 with a high of 0.8220 and a low of 0.8160, down 0.41%.
Fundamentals over night came into play with the Chinese data reading slightly better than expectations. GDP came in at 7.3 vs 7.2 expected while Industrial Production 7.9% read vs 7.4% expected.
Meanwhile, AUD/USD is moving along in a sideways channel supported by 0.8170, trading in limbo above the 20 DMA at 0.8150. A break of the 20 DMA may open up potential for a run at 0.8034 recent lows and Karen Jones, chief analyst at Commerzbank noted a potential target thereafter for the long term double Fibonacci support at 0.7950/30.
Fundamentals over night came into play with the Chinese data reading slightly better than expectations. GDP came in at 7.3 vs 7.2 expected while Industrial Production 7.9% read vs 7.4% expected.
Meanwhile, AUD/USD is moving along in a sideways channel supported by 0.8170, trading in limbo above the 20 DMA at 0.8150. A break of the 20 DMA may open up potential for a run at 0.8034 recent lows and Karen Jones, chief analyst at Commerzbank noted a potential target thereafter for the long term double Fibonacci support at 0.7950/30.