8 Apr 2014
AUD/USD gets a boost to 0.9280
FXStreet (Bali) - AUD/USD is surging in early Tokyo trading, posting a session high of 0.9280 from a 0.9263 NY close.
The rise comes after Bloomberg headlines noted that "Japanese bought net ¥118.2b of $A long-term debt in February ($A1.3b)", a piece of news that has apparently encouraged market participants to bid the antipodean currency ahead of the NAB business sentiment reading at 1.30GMT.
Technically, Valeria Bednarik, Chief Analyst at FXStreet, notes: "Aussie maintains the range against the greenback, trading in the middle of the 0.9215/0.9310 limits. In the 4 hours chart price bounced from its 20 SMA while indicators stand directionless in positive territory, giving little clues of upcoming direction. A break of the mentioned extremes is required to confirm some directional move in the pair, with the upside still favored in the longer view. "
The rise comes after Bloomberg headlines noted that "Japanese bought net ¥118.2b of $A long-term debt in February ($A1.3b)", a piece of news that has apparently encouraged market participants to bid the antipodean currency ahead of the NAB business sentiment reading at 1.30GMT.
Technically, Valeria Bednarik, Chief Analyst at FXStreet, notes: "Aussie maintains the range against the greenback, trading in the middle of the 0.9215/0.9310 limits. In the 4 hours chart price bounced from its 20 SMA while indicators stand directionless in positive territory, giving little clues of upcoming direction. A break of the mentioned extremes is required to confirm some directional move in the pair, with the upside still favored in the longer view. "