Forex: AUD/USD recovers to 1.0553/55 level
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AUD/USD
FXstreet.com (Barcelona) - After an overnight dip surrounding the release of Australian economic data, the AUDUSD has stabilized during European trading Wednesday, having spanned 49 pips thus far (1.0527 - 1.0576). The pair has in recent moments recovered some strength, however it still resides in negative territory, down -0.10% and settling at the 1.0553/55 level.
The Australian dollar held reasonably well in the face of a weaker than expect Q4 CPI report - "although it was a little soft, our Australian economics team doubt it will be enough to trigger a rate cut from the RBA in February." suggested Research Analyst Gareth Berry at UBS.
According to the Mataf.net Analyst Team, the AUDUSD will face calculated support at 1.0514, onto 1.0473, and 1.0441. Conversely, a prolonged thrust above the 1.0587 level will trigger resistances at 1.0619 and 1.066.
The Australian dollar held reasonably well in the face of a weaker than expect Q4 CPI report - "although it was a little soft, our Australian economics team doubt it will be enough to trigger a rate cut from the RBA in February." suggested Research Analyst Gareth Berry at UBS.
According to the Mataf.net Analyst Team, the AUDUSD will face calculated support at 1.0514, onto 1.0473, and 1.0441. Conversely, a prolonged thrust above the 1.0587 level will trigger resistances at 1.0619 and 1.066.
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