2 Dec 2013
AUD/USD threatens 0.9130/50 offers post Aus data
FXstreet.com (Barcelona) - AUD/USD persists on its attempts to conquer higher quotes early in Asia, with the exchange rate attacking 0.9130/50 offers-sensitive territory once again, following better-than-expected Australian building permits.
Australian data better-than-expected
Based on the official data, Australian Building Permits (MoM) came at -1.8% vs -5.0% exp and 16.9% last (revised from 14.4%=, while (YoY) (Oct) saw an increase of 23.1% vs 18.6% last.
AUD/USD technicals
Technically, AUD/USD "is gaining some short term bullish tone according to the hourly chart as price stands above 20 SMA while indicators bounce higher from their midlines, with the 4 hours chart providing a similar technical picture" notes Valeria Bednarik, Chief Analyst at FXstreet.com, who adds that now "steady gains above 0.9150 are required to confirm an upward continuation."
Australian data better-than-expected
Based on the official data, Australian Building Permits (MoM) came at -1.8% vs -5.0% exp and 16.9% last (revised from 14.4%=, while (YoY) (Oct) saw an increase of 23.1% vs 18.6% last.
AUD/USD technicals
Technically, AUD/USD "is gaining some short term bullish tone according to the hourly chart as price stands above 20 SMA while indicators bounce higher from their midlines, with the 4 hours chart providing a similar technical picture" notes Valeria Bednarik, Chief Analyst at FXstreet.com, who adds that now "steady gains above 0.9150 are required to confirm an upward continuation."