FXstreet.com (Barcelona) – AUD/USD has gained broader upward traction in Asia, currently breaking into new session highs at 0.9125, with stiff resistance just ahead between 0.9130 (static resistance) up to 0.9145 (kumo top hourly).
Australian CAPEX data triggers short-covering
The latest jump in the Aussie was induced by much better-than-expected Capex, with John Noonan, Head of IFR Markets in Syndey, noting that “the breakdown of Aus CAPEX was unambiguously positive and caught market by surprise.”
AUD/USD faces formidable resistance
Noonan mentions that “talk of good selling interest between 0.9135/40 causing rally to hesitate”, adding that “the 5-day MA (0.9130) has been good …read more