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10 Mar 2014
AUD/USD capped below 0.9050, trades outside daily cloud
FXStreet (Bali) - AUD/USD keeps trading below the 0.9050 area along the Asian session this Monday, with the rate currently at 0.9043, over 20 pips below the Friday US close.
Chinese trade balance, which came much lower-than-expected over the weekend, coupled with the unrest in the Ukraine crisis and the Friday close below 0.9080 were all negative inputs for the Aussie heading into a new week.
According to Jim Langlands, Founder at FXCharts: "The China data may put a bit of a dent in the Aud early in the week and could open lower but should not do too much damage, with the daily momentum remaining positive, and having broken above the top of the daily cloud at 0.9040 further gains look possible in the coming days."
Chinese trade balance, which came much lower-than-expected over the weekend, coupled with the unrest in the Ukraine crisis and the Friday close below 0.9080 were all negative inputs for the Aussie heading into a new week.
According to Jim Langlands, Founder at FXCharts: "The China data may put a bit of a dent in the Aud early in the week and could open lower but should not do too much damage, with the daily momentum remaining positive, and having broken above the top of the daily cloud at 0.9040 further gains look possible in the coming days."