Forex: AUD/USD fresh session lows around 1.0515 despite China GDP improvement

FXstreet.com (Barcelona) - AUDUSD is falling to fresh session lows, with first increase in year on year quarterly GDP in China for 2 years, something not very bullish for the pair. Last at fresh lows 1.0513, the pair is down from previous session highs at 1.0560 printed right after the announcement, falling from there ever since. China 4Q GDP rose to +7.9% YoY beating expectations of +7.8%, and beating previous one of +7.4%.

Something, has not been enough for AUD buyers to push the pair higher, making so far so good Goldman Sachs call for 2013, as shorting the Aussie being one of their top choices. Yesterday's worse than expected job Aussie data took the pair out of the range it had been into since the start of the week, making new weekly lows at 1.0493, from where the pair recovered by late Asia-Pacific session yesterday. US consumer confidence later on at 14:55 GMT will be one of most important risk events for the day ahead.

Immediate support to the downside for AUDUSD lies at yesterday's weekly lows 1.0493, followed by Jan 07 lows at 1.0466, and Dec 24 highs at 1.0417. To the upside, closest resistance shows at Monday's lows 1.0520, followed by recent session highs at 1.0561, and weekly Wednesday's highs at 1.0580.