AUD USD has kept its move above the handle
1/3/2017 9:46:46 AM
According to forex market the AUD/USD pair cut some of the positive Chinese data-led strong gains, although has kept to its move above 0.7205 handle.
At present trading around 0.7212 area, better than anticipated Chinese manufacturing PMI raised the pair to session top level near 0.7237 area.
A follow through retracement below 0.7210 handle is probable to quicken the slide back towards session low support near 0.7187 level below which the pair is likely to head back towards 7-month lows support near 0.7158 region. On the upside, 0.7245 area now appears to have arisen as immediate obstacle, which if cleared should boost the pair towards 0.7305 handle, with 0.7278 level acting as intermediate persistence.
FOREX Fundamental Analysis
Written by FxErvin