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Thomson Reuters
Apr 09 - 02:36 AM
AUD/USD - Volumes Picking Up As Resistance Tested
First appeared on eFXplus on Apr 09 - 12:20 AM
  • AUD/USD well bid as it tries to take out stubborn resistance at 0.7130/35
  • Relatively large amounts changing hands above 0.7130, as sell orders tested
  • Break above 0.7140 targets March 21 high at 0.7168 and 200-day MA at 0.7198
  • AUD/USD underpinned by growing consensus China's economy bottoming
  • Strong moves higher in key commodities and rising EM assets also support

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