AUD/USD: Settled on 0.74 ahead of sceptic bears

AUD/USD: Settled on 0.74 ahead of sceptic bears
FXStreet (Guatemala) – AUD/USD is currently trading at 0.7410 with a high of 0.7414 and a low of 0.7403.

AUD/USD has been better bid overnight using 0.74 as a support post the minor recovery from 0.7348.

The domestic data of late has been more favourable to the Aussie with a less poor jobs market, better business climate as well as some positiveness out of China this week where the GDP read Q/Q 1.7% vs 1.6% and 7% vs 6.9% Y/Y earlier in the week. Today from the US, the Philly fed was terrible, coming at 5.7 vs 12.0 consensus vs 15.2 previous while tonight we await US CPI’s. Yellen was testifying over the past 24hrs and markets are having confirmations that she expects rates to rise before the year is out.

AUD/USD holds the 0.74 psychological handle

AUD/USD has recovered back on to the 0.74 handle although the consensus is that the market remains offered below the 0.7613 short term resistance line. Karen Jones, chief analyst at Commerzbank explained that, “Rallies will find initial resistance at 0.7559, the 23.6% retracement and should ideally remain contained by the 0.7613 short term resistance line to remain directly offered.”
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Source: FXStreet