5 Mar 2014
AUD/USD rocketed on decent Q4 GDP
FXStreet (Guatemala) - AUD/USD spiked on the GDP number that beat expectations.
There were two sets of data for the Aussie today which traders will be interested upon. The first was from China. China set the 2014 growth target at 7.5% which was the same as last year and also the CPI target has been set at 3.5% which is also the same as last year.
Then we had the Q4 2913 GDP from Australia, although out dated it is still of keen interest that GDP (YoY) Q4 read as 2.8% vs 2.5% expected and (QoQ) Q4 came in at 0.8% vs 0.7%. Meanwhile, the RBA left policy on hold at yesterdays meeting (but resumed the commentary on the AUD, noting the currency remained high by historical standards).
AUD/USD Levels
The 20 DMA is 0.8983, the 50 DMA is 0.8911 and the 200 DMA is 0.9179. RSI (14) reads 60. Support are ascending from 0.8770, 0.8821, 0.8873 and 0.8891. Spot is 0.8978 while resistances are 0.8990, 0.9026 and 0.9050.
There were two sets of data for the Aussie today which traders will be interested upon. The first was from China. China set the 2014 growth target at 7.5% which was the same as last year and also the CPI target has been set at 3.5% which is also the same as last year.
Then we had the Q4 2913 GDP from Australia, although out dated it is still of keen interest that GDP (YoY) Q4 read as 2.8% vs 2.5% expected and (QoQ) Q4 came in at 0.8% vs 0.7%. Meanwhile, the RBA left policy on hold at yesterdays meeting (but resumed the commentary on the AUD, noting the currency remained high by historical standards).
AUD/USD Levels
The 20 DMA is 0.8983, the 50 DMA is 0.8911 and the 200 DMA is 0.9179. RSI (14) reads 60. Support are ascending from 0.8770, 0.8821, 0.8873 and 0.8891. Spot is 0.8978 while resistances are 0.8990, 0.9026 and 0.9050.