FxWirePro: AUD/USD spikes above 0.77 handle on upbeat Chinese exports data, momentum bullish
Aussies bulls received fresh impetus from stronger than expected Chinese trade data. Data showed imports picking-up pace in Australia’s biggest export destination, highlighting improved Chinese external demand. AUD/USD s…
Aussies bulls received fresh impetus from stronger than expected Chinese trade data.
Data showed imports picking-up pace in Australia’s biggest export destination, highlighting improved Chinese external demand.
AUD/USD spikes through 0.77 handle post data, hit fresh monthly highs at 0.7716 and has pared some gains to currently trade at 0.77 levels.
Our previous call (http://www.econotimes.com/FxWirePro-AUD-USD-breaks-strong-trendline-resistance-at-07595-targets-077-192963) has almost hit final target.
Focus remains on the US retail sales and PPI releases due later today for fresh direction along with Thursday’s inflation report.
Recommendation: Book partial profits, raise stops to 0.7650, target 0.7770
