20 Jan 2015
AUD/USD bid on good looking data from China
FXStreet (Guatemala) - AUD/USD is currently trading at 0.8206 with a high of 0.8219 and a low of 0.8169., down just 0.04% on the day so far.
AUD/USD has been on the bid on the back of slightly better than expected Chinese data, heading towards the 0.8220 resistance. China's GDP was firmer with the Q4 read year on year at 7.3% vs 7.2% expected, while Industrial Production was a good number on 7.4% expected but the reading came along at 7.9% and beat previous of 7.2%.
Meanwhile, the longs are a long way off from any key resistance that comes at the 0.8271 downtrend. and a close above here at least is going to be required to move put of the bearishness of the unit in the current climate. Through here how ever lies the deeper retracement to 0.8356/70 and then 0.8472 there after.
AUD/USD has been on the bid on the back of slightly better than expected Chinese data, heading towards the 0.8220 resistance. China's GDP was firmer with the Q4 read year on year at 7.3% vs 7.2% expected, while Industrial Production was a good number on 7.4% expected but the reading came along at 7.9% and beat previous of 7.2%.
Meanwhile, the longs are a long way off from any key resistance that comes at the 0.8271 downtrend. and a close above here at least is going to be required to move put of the bearishness of the unit in the current climate. Through here how ever lies the deeper retracement to 0.8356/70 and then 0.8472 there after.