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Forex pairs in this Article » AUD/USD (Barcelona) - The Australian Dollar is having a knee-jerk reaction to Chinese GDP Q4 2012, which came at +7.9% on Year vs +7.8% exp; 4Q GDP stood at +2.0% on quarter vs 2.3% exp. The rest of indicators were in line with forecasts, with some little upbeat print on retail sales.

The initial spike in the Aussie is currently being faded by sellers camped at 1.0550+, having produced a retracement towards the 1.0540 area. The strong China data seems to have been partially disccounted by the market after the healthy rebound on the Aussie through last European session. The pair remains in a context of range-bound between 1.0480/1.05 and 1.0600/10.
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