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9 Feb 2015
AUD/USD weighing to the downside
FXStreet (Guatemala) - AUD/USD is currently trading 0.7755 with a high of 0.7777 and a low of 0.7746.
AUD/USD is trading on the heavy side with offers coming in at the start of the week, adding to the pressures that came of the Nonfarm Payrolls event last Friday.
January payrolls, in a month that is usually a non performer, rose 257k versus the median forecast of 228k but came with huge revisions of 147k for the months Nov-Dec with average earnings rebounding 0.5% after the -0.2% shock in Dec. The greenback soared across the majors and the Aussie took a further knock in the soft Chinese trade data on the weekend.
AUD/USD had made a low 0.7625 but for time being we are supported at the mid point of the handle, with next support at the 29th Jan low at 0.7720.
Further down and below 0.7597, there is very little support apart from the 0.7335, 50% retracement of the move up from 2001.
AUD/USD is trading on the heavy side with offers coming in at the start of the week, adding to the pressures that came of the Nonfarm Payrolls event last Friday.
January payrolls, in a month that is usually a non performer, rose 257k versus the median forecast of 228k but came with huge revisions of 147k for the months Nov-Dec with average earnings rebounding 0.5% after the -0.2% shock in Dec. The greenback soared across the majors and the Aussie took a further knock in the soft Chinese trade data on the weekend.
AUD/USD had made a low 0.7625 but for time being we are supported at the mid point of the handle, with next support at the 29th Jan low at 0.7720.
Further down and below 0.7597, there is very little support apart from the 0.7335, 50% retracement of the move up from 2001.