Back
8 Jan 2015
AUD/USD bears making hard work below 0.81 handle
FXStreet (Guatemala) - AUD/USD is currently trading at 0.8116, with a high made of 0.8127 and a low made of 0.8067 while being up 0.57%.
AUD/USD is trading in familiar ranges and stubborn on the 0.81 handle having found ground here from below 0.8040 on yesterday's business. The pair rose on the back of decent building permits of yesterday. The pair found support in the US data that slightly disappointed around the Jobless claims numbers. Tonight we get the AiG Performance of Construction Index (Dec) for Australia and then Retail Sales. Chinas Consumer Price Index data will also be available thereafter.
Technically, there is a lack of follow through down around the 0.8068 2010 low, ahead of the long term double Fibonacci support at 0.7950/30 and weakness around these levels, as indicated by Karen Jones, chief analyst at Commerzbank, may spur up some more profit taking while testing the bulls and bears commitments.
AUD/USD is trading in familiar ranges and stubborn on the 0.81 handle having found ground here from below 0.8040 on yesterday's business. The pair rose on the back of decent building permits of yesterday. The pair found support in the US data that slightly disappointed around the Jobless claims numbers. Tonight we get the AiG Performance of Construction Index (Dec) for Australia and then Retail Sales. Chinas Consumer Price Index data will also be available thereafter.
Technically, there is a lack of follow through down around the 0.8068 2010 low, ahead of the long term double Fibonacci support at 0.7950/30 and weakness around these levels, as indicated by Karen Jones, chief analyst at Commerzbank, may spur up some more profit taking while testing the bulls and bears commitments.