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3 Apr 2013
Forex: AUD/USD upside capped around 1.0470
FXstreet.com (Barcelona) - The Aussie dollar failed to follow through 1.0470 overnight, now retreating to the current area of 1.0455/60 ahead of the opening bell in London.
“Australia’s trade deficit came in much lower than expected in February, thanks to assistance both from a 3% lift in exports and a 1% decline in imports. This is the best monthly trade balance result since December 2011”, assessed Davis de Garis, Senior Economist at NAB.
At the moment, AUD/USD is advancing 0.08% at 1.0458 facing the next hurdle at 1.0482 (high Mar.27) followed by 1.0555 (high Jan.24).
On the flip side, a breach of 1.0437 (MA10d) would bring 1.0428 (high Mar.29).
“Australia’s trade deficit came in much lower than expected in February, thanks to assistance both from a 3% lift in exports and a 1% decline in imports. This is the best monthly trade balance result since December 2011”, assessed Davis de Garis, Senior Economist at NAB.
At the moment, AUD/USD is advancing 0.08% at 1.0458 facing the next hurdle at 1.0482 (high Mar.27) followed by 1.0555 (high Jan.24).
On the flip side, a breach of 1.0437 (MA10d) would bring 1.0428 (high Mar.29).