FXstreet.com (San Francisco) - AUD/USD traded a broad range on Thursday between1.0242 and 1.0328, having reached a 2-day high on the back of China’s rate cuts and as Aussie trade data surprised positively.
The pair last trades in the 1.0300 price zone, up around 30 pips from its starting price. The mentioned price action has completely engulfed the previous day’s range, while respecting the 50% Fibonacci retracement zone of the 1.0854/0.9579 downswing.
Should the bull pressure persist in the global day ahead, resistance is noted at 1.0375 (61.8%, mentioned selloff), while support lies at 1.0216 (21 Dec low).
The pair last trades in the 1.0300 price zone, up around 30 pips from its starting price. The mentioned price action has completely engulfed the previous day’s range, while respecting the 50% Fibonacci retracement zone of the 1.0854/0.9579 downswing.
Should the bull pressure persist in the global day ahead, resistance is noted at 1.0375 (61.8%, mentioned selloff), while support lies at 1.0216 (21 Dec low).
