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13 Mar 2013
Forex: AUD/USD advancing firmly above 1.0300
The Aussie dollar is extending its weekly rally from Monday’s lows in the vicinity of 1.0200 to highs in levels shy of 1.0340 overnight, after Investment Lending for Homes rose 4.4% during January, reverting the previous contraction.
Further data showed that Home Loans contracted 1.5%, missing the median albeit better than December’s -2.1%. The consumer confidence gauged by Westpac rose 2.0% in March below the 7.7% previous.
At the moment, AUD/USD is up 0.05% at 1.0327 facing the next resistance at 1.0335 (high Mar.12) ahead of 1.0341 (high Feb.22) and then 1.0356 (MA200d).
On the downside, a breach of 1.0305 (high Mar.6) would bring 1.0274 (MA21d) and finally 1.0266 (low Mar.12).
Further data showed that Home Loans contracted 1.5%, missing the median albeit better than December’s -2.1%. The consumer confidence gauged by Westpac rose 2.0% in March below the 7.7% previous.
At the moment, AUD/USD is up 0.05% at 1.0327 facing the next resistance at 1.0335 (high Mar.12) ahead of 1.0341 (high Feb.22) and then 1.0356 (MA200d).
On the downside, a breach of 1.0305 (high Mar.6) would bring 1.0274 (MA21d) and finally 1.0266 (low Mar.12).