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18 Oct 2013
AUD/USD whipsaws falling to 0.9604 bottoms
FXstreet.com (Chicago) - AUD/USD could not resist bearish pressure that sent the pair to the grounds almost losing the 0.96 zone after whipsaw triggered by the release of Chinese data.
Chinese facts, RBA’s comments
Recently published data in China matched expectations for the most part with GDP (QoQ) for Q3 at 2.2% vs. past 1.7% and expected 1.9%, industrial production at 10.2% vs. expected 10.1% and retail sales (YoY) at 13.3% vs. estimates at 13.5%. No monetary comments were made during last RBA’s governor speech in Australia.
AUD/USD Technical Levels
Reacting to data and announcements, the pair whipsawed to 0.9331 highs to now trade at 0.9611 and navigate between supports aligned at 0.9590 (October 4th highs), 0.9532 (September 15th highs) ahead of 0.9464 (May 30th lows) and the resistances set at 0.9667 (June 10th highs), 0.9714 (May 13th lows) followed by 0.9772 (June 4th highs). The pair extends the bullish channel above the upward trendline from last September 25th recovery after fall below 0.95.
Chinese facts, RBA’s comments
Recently published data in China matched expectations for the most part with GDP (QoQ) for Q3 at 2.2% vs. past 1.7% and expected 1.9%, industrial production at 10.2% vs. expected 10.1% and retail sales (YoY) at 13.3% vs. estimates at 13.5%. No monetary comments were made during last RBA’s governor speech in Australia.
AUD/USD Technical Levels
Reacting to data and announcements, the pair whipsawed to 0.9331 highs to now trade at 0.9611 and navigate between supports aligned at 0.9590 (October 4th highs), 0.9532 (September 15th highs) ahead of 0.9464 (May 30th lows) and the resistances set at 0.9667 (June 10th highs), 0.9714 (May 13th lows) followed by 0.9772 (June 4th highs). The pair extends the bullish channel above the upward trendline from last September 25th recovery after fall below 0.95.