Back
20 Feb 2013
Forex: AUD/USD remains bullish around 1.0360
The Aussie dollar is hovering over 1.0360 on Wednesday, heading towards another attempt to break Tuesday’s highs in the vicinity of 1.0370, as risk appetite is propping up the upside.
In the data front, the Westpac Leading Index in December rose 0.2% on a monthly basis, down from November’s +0.7%. “Wages (the Wage Cost Index, which is the benchmark wages series in Australia now) rose 0.8% QoQ in 4Q 2012, in line with expectations. From a year ago, wages are 3.4% higher, which is the lowest annual increase since 2Q 2010”, commented Adrian Foster, analyst at Rabobank.
At the moment, the cross is up 0.05% at 1.0360 facing the next barrier at 1.0375 (high Feb.15) ahead of 1.0388 (MA21d) and then 1.0400 (high Feb.6).
On the downside, a break below 1.0330 (hourly high/lows Feb.19) would expose 1.0322 (MA200d) and then 1.0318 (MA10d).
In the data front, the Westpac Leading Index in December rose 0.2% on a monthly basis, down from November’s +0.7%. “Wages (the Wage Cost Index, which is the benchmark wages series in Australia now) rose 0.8% QoQ in 4Q 2012, in line with expectations. From a year ago, wages are 3.4% higher, which is the lowest annual increase since 2Q 2010”, commented Adrian Foster, analyst at Rabobank.
At the moment, the cross is up 0.05% at 1.0360 facing the next barrier at 1.0375 (high Feb.15) ahead of 1.0388 (MA21d) and then 1.0400 (high Feb.6).
On the downside, a break below 1.0330 (hourly high/lows Feb.19) would expose 1.0322 (MA200d) and then 1.0318 (MA10d).