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18 Apr 2013
Forex: AUD/USD in session highs, around 1.0315/20
FXstreet.com (Barcelona) - The Aussie dollar is advancing on Thursday after the NAB Business Confidence during the first quarter improved to 2 from -5.
Alexandra Night, Economist at NAB, commented, “Much of the improvement in confidence reflects the unwinding of concern surrounding a number of external risks, including the US fiscal cliff, a hard landing in China and the reduced risk of a further European crisis. While equity price rises and lower borrowing rates are also likely to have helped, it appears the still high AUD remains concerning for the trade dependent industries”.
AUD/USD is up 0.16% at 1.0314 and a surpass of 1.0345 (hourly high/lows Apr.17) would expose 1.0375 (hourly high Apr.17) and finally 1.0397 (MA200d).
On the flip side, support levels are located at 1.0266 (low Mar.12) ahead of 1.0202 (low Mar.11) and then 1.0188 (low Mar.5).
Alexandra Night, Economist at NAB, commented, “Much of the improvement in confidence reflects the unwinding of concern surrounding a number of external risks, including the US fiscal cliff, a hard landing in China and the reduced risk of a further European crisis. While equity price rises and lower borrowing rates are also likely to have helped, it appears the still high AUD remains concerning for the trade dependent industries”.
AUD/USD is up 0.16% at 1.0314 and a surpass of 1.0345 (hourly high/lows Apr.17) would expose 1.0375 (hourly high Apr.17) and finally 1.0397 (MA200d).
On the flip side, support levels are located at 1.0266 (low Mar.12) ahead of 1.0202 (low Mar.11) and then 1.0188 (low Mar.5).