8 May 2014
AUD/USD in highs above 0.9380
FXStreet (Edinburgh) - The Aussie dollar is pushing higher on Thursday, lifting the AUD/USD to 3-week highs around 0.9380.
AUD/USD boosted by data in Oz, China
Once again, the Australian labour market surpassed estimates and gave extra wings to the AUD, pushing spot to fresh highs in the area of 0.9380/85. The unemployment rate remained unchanged at 5.8% while the Employment Change rose by 14.2K, more than doubling expectations for 6.75K. In the same line, a higher trade surplus in China during April added to the upbeat sentiment around the pair. “This morning, a positive set of April labor market numbers flipped the AUD-USD higher although 0.9385 and then 0.9400 may limit in the near term pending Chinese data flow. On the downside, 0.9315 may also cushion on near term dips”, noted Emmanuel NG, FX Strategist at OCBC Bank.
AUD/USD key levels
The pair is now up 0.55% at 0.9379 with the next resistance at 0.9427 (high Apr.11) ahead of 0.9461 (high Apr.10) and then 0.9500 (psychological level). On the downside, a breach of 0.9227 (low Apr.29) would aim for 0.9225 (low Apr.4) and finally 0.9184 (50-d MA).
AUD/USD boosted by data in Oz, China
Once again, the Australian labour market surpassed estimates and gave extra wings to the AUD, pushing spot to fresh highs in the area of 0.9380/85. The unemployment rate remained unchanged at 5.8% while the Employment Change rose by 14.2K, more than doubling expectations for 6.75K. In the same line, a higher trade surplus in China during April added to the upbeat sentiment around the pair. “This morning, a positive set of April labor market numbers flipped the AUD-USD higher although 0.9385 and then 0.9400 may limit in the near term pending Chinese data flow. On the downside, 0.9315 may also cushion on near term dips”, noted Emmanuel NG, FX Strategist at OCBC Bank.
AUD/USD key levels
The pair is now up 0.55% at 0.9379 with the next resistance at 0.9427 (high Apr.11) ahead of 0.9461 (high Apr.10) and then 0.9500 (psychological level). On the downside, a breach of 0.9227 (low Apr.29) would aim for 0.9225 (low Apr.4) and finally 0.9184 (50-d MA).