30 Jan 2014
AUD/USD gathers traction, eyes 0.8800
FXstreet.com (Edinburgh) - The Aussie dollar is picking up pace now, pushing the AUD/USD levels beyond 0.8780 after the US docket.
AUD/USD supported around 0.8700
The pair sold off to the vicinity of 0.8700 the figure overnight, after the Chinese manufacturing PMI sponsored by HSBC disappointed investors at 49.5 during January. However, spot managed to rebound and is currently printing fresh intraday highs beyond 0.8780 after the weekly report on the US labour market showed an increment of claims last week and the US economic activity expanded in line with estimates 3.2% YoY in Q4.
AUD/USD key levels
The pair is now up 0.62% at 0.8784 with the next resistance at 0.8821 (high Jan.28) ahead of 0.8853 (high Jan.23) and then 0.8889 (high Jan.22). On the downside, a break below 0.8727 (low Jan.28) would aim for 0.8678 (low Jan.27) and finally 0.8660 (low Jan.24).
AUD/USD supported around 0.8700
The pair sold off to the vicinity of 0.8700 the figure overnight, after the Chinese manufacturing PMI sponsored by HSBC disappointed investors at 49.5 during January. However, spot managed to rebound and is currently printing fresh intraday highs beyond 0.8780 after the weekly report on the US labour market showed an increment of claims last week and the US economic activity expanded in line with estimates 3.2% YoY in Q4.
AUD/USD key levels
The pair is now up 0.62% at 0.8784 with the next resistance at 0.8821 (high Jan.28) ahead of 0.8853 (high Jan.23) and then 0.8889 (high Jan.22). On the downside, a break below 0.8727 (low Jan.28) would aim for 0.8678 (low Jan.27) and finally 0.8660 (low Jan.24).