13 Jan 2015
AUD/USD trips stops above 0.8170 post China trade
FXStreet (Bali) - AUD/USD is breaking above 0.8170, triggering some weak stops in the process, setting session highs at 0.8178 after the publication of China's trade.
China Exports (YoY) for Dec came in at 9.9% vs 6.0% exp and 4.7% prior, while imports (YoY) Dec were -2.3% vs -6.2% exp and -6.7% last, with China's trade balance (Dec) standing at USD 49.1 bln vs USD 49.9 previous.
Technically, from an H4 perspective, Valeria Bednarik, Chief Analyst at FXStreet, notes: "The pair is finding short term support in a bullish 20 SMA now around 0.8135, while indicators bounced around their midlines, limiting slides as long as the mentioned 0.8130 level holds, and favoring another leg higher towards the 0.8200 price zone."
China Exports (YoY) for Dec came in at 9.9% vs 6.0% exp and 4.7% prior, while imports (YoY) Dec were -2.3% vs -6.2% exp and -6.7% last, with China's trade balance (Dec) standing at USD 49.1 bln vs USD 49.9 previous.
Technically, from an H4 perspective, Valeria Bednarik, Chief Analyst at FXStreet, notes: "The pair is finding short term support in a bullish 20 SMA now around 0.8135, while indicators bounced around their midlines, limiting slides as long as the mentioned 0.8130 level holds, and favoring another leg higher towards the 0.8200 price zone."