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8 May 2013
Forex: Aussie attempting to claw back some losses during Asia trade
FXstreet.com (Barcelona) - After trading as low as 1.0155 early in the Asia session, the Aussie has managed to claw back some earlier losses and is currently trading down just two pips at 1.0185. The pair received a nice boost from the China Trade Balance which was released a bit earlier at 1:50GMT.
According to analysts at FXStreet.com, “China April trade balance came at $18.16bn vs. $16.15bn expected. Imports (YoY) in April stood at 16.8% vs 13.9% expected and 14.1% prior, while exports (YoY) came at +14.7% vs 10.3% expected and 10.0% last.”
The FXStreet.com Trend Index remains slightly bullish on the 1 hr chart, while the OB/OS Index reads Neutral. First resistance comes in at1.0200 (supply candle on 30min chart), followed by 1.0220 (previous support, now resistance on daily). Initial support comes in at 1.0154 (low of previous day)
According to analysts at FXStreet.com, “China April trade balance came at $18.16bn vs. $16.15bn expected. Imports (YoY) in April stood at 16.8% vs 13.9% expected and 14.1% prior, while exports (YoY) came at +14.7% vs 10.3% expected and 10.0% last.”
The FXStreet.com Trend Index remains slightly bullish on the 1 hr chart, while the OB/OS Index reads Neutral. First resistance comes in at1.0200 (supply candle on 30min chart), followed by 1.0220 (previous support, now resistance on daily). Initial support comes in at 1.0154 (low of previous day)