AUDUSD – solid Australian / China data boosted Aussie but without break above 0.8000 so far
The Aussie dollar regained traction and bounced from session low at 0.7941, regaining levels near cracked 0.8000 barrier, following Wednesday’s strong rejection at 0.8022 on first attempt above 0.8000 pivot.
Better than expected Australian jobs data (34.7K new jobs created in Dec vs 9K forecasted) and strong China’s data (Q4 GDP 6.8% vs 6.7% f/c and Dec IP 6.2% vs 6.0% f/c) inflated the Aussie for renewed attempts above 0.8000 and continuation of steep uptrend.
Bullish techs continue to support, however, the pair may show further signs of hesitation as overbought daily studies warn of corrective easing.
Lows of past three days at 0.7940 zone form initial support, followed by rising 10SMA at 0.7904, which should ideally contain and reduce risk of deeper pullback.
Res: 0.8000; 0.8022; 0.8065; 0.8102
Sup: 0.7940; 0.7925; 0.7904; 0.7880