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15 Apr 2013
Forex: AUD/USD hammered on China CPI
FXstreet.com (Barcelona) - Following a possible leak in the China CPI figure, coincident with Gold crashing below the $1450 mark, down -7.7% in last 2 trading days, AUD/USD is also being hammered last at fresh session lows 1.0462, on the back of weaker than expected China CPI data, at +7.7% vs +8% year on year.
All local share markets trade in the red, with Oil also printing fresh session and 1-month lows, as inflation fears are diminishing and global economic slow down might come next. So far AUD/USD is down -0.44% for the session, with Gold now below the $1430 mark, fresh 2-year lows.
Immediate support to the downside for AUD/USD lies at recent fresh session lows and March 05 highs 1.0438, followed by Dec 03 lows/200 SMA at 1.0394/88, and April 08 lows at 1.0346. To the upside, closest resistance shows at Friday's lows 1.0480, followed by recent session highs at 1.0523, and Friday's highs at 1.0562.
All local share markets trade in the red, with Oil also printing fresh session and 1-month lows, as inflation fears are diminishing and global economic slow down might come next. So far AUD/USD is down -0.44% for the session, with Gold now below the $1430 mark, fresh 2-year lows.
Immediate support to the downside for AUD/USD lies at recent fresh session lows and March 05 highs 1.0438, followed by Dec 03 lows/200 SMA at 1.0394/88, and April 08 lows at 1.0346. To the upside, closest resistance shows at Friday's lows 1.0480, followed by recent session highs at 1.0523, and Friday's highs at 1.0562.