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8 Mar 2013
Forex: AUD/USD in red around 1.0250
The Aussie dollar is trading in the defensive position on Friday, retracing ground from Thursday’s highs above 1.0280 to the actual area around 1.0250, despite the positive figures from the Chinese external sector during February.
No further data in Australia until next Tuesday, when the National Australia Bank would publish its Business Conditions/Confidence indices.
At the moment, the pair is down 0.15% at 1.0251 facing the next support at 1.0206 (high Mar.4) ahead of 1.0188 (low Mar.5) and finally 1.0182 (Lower Bollinger).
On the flip side, a break above 1.0265 (hourly low/high Mar.6) would bring 1.0278 (MA21d) and then 1.0303 (high Mar.6).
No further data in Australia until next Tuesday, when the National Australia Bank would publish its Business Conditions/Confidence indices.
At the moment, the pair is down 0.15% at 1.0251 facing the next support at 1.0206 (high Mar.4) ahead of 1.0188 (low Mar.5) and finally 1.0182 (Lower Bollinger).
On the flip side, a break above 1.0265 (hourly low/high Mar.6) would bring 1.0278 (MA21d) and then 1.0303 (high Mar.6).