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4 Apr 2013
Forex: AUD/USD in session lows, around 1.0425/30
FXstreet.com (Barcelona) - The Aussie dollar is printing fresh lows in the vicinity of 1.0415/20 on Thursday, dragged by mixed data from the Australian economy: Building Permits rose less than expected 12.8% YoY in February, while Retail Sales expanded 1.3% on a monthly basis vs. 0.3% forecasted.
“All up, today’s data provides more comfort to the RBA that earlier rate cuts are translating into stronger activity. There is still a question mark on the non-mining investment outlook and concerns over the high AUD, but with strong retail data coming through it reduces the pressure on the RBA to cut again in the near-term”, comments Spiros Papadopoulos, Economist at NAB.
AUD/USD is now losing 0.28% at 1.0430.
Next support levels are located at 1.0391 (daily cloud top) and then 1.0387 (MA200d).
On the upside, a break above 1.0498 9high Apr.3) would expose 1.0555 (high Jan.24).
“All up, today’s data provides more comfort to the RBA that earlier rate cuts are translating into stronger activity. There is still a question mark on the non-mining investment outlook and concerns over the high AUD, but with strong retail data coming through it reduces the pressure on the RBA to cut again in the near-term”, comments Spiros Papadopoulos, Economist at NAB.
AUD/USD is now losing 0.28% at 1.0430.
Next support levels are located at 1.0391 (daily cloud top) and then 1.0387 (MA200d).
On the upside, a break above 1.0498 9high Apr.3) would expose 1.0555 (high Jan.24).