Aussie buoyed after robust trade balance data released earlier today.
The antipodean also helped by Chinese Caixin Manufacturing PMI data that managed to hold above the 50.0 critical level.
Asians stocks are solidly bid Thursday as China's leadership signaled that further stimulus is being planned to counter the economic slowdown.
Technical studies are bullish. The pair has shown a break above daily cloud and we see scope for further upside.
The pair is now testing 110-EMA at 0.7178, break above to see upside till 61.8% Fib at 0.7312.
Support levels - 0.7145 (38.2% Fib), 0.7095 (55-EMA)
Resistance levels - 0.7178 (110-EMA), 0.7229 (50% Fib), 0.7312 (61.8% Fib)
Stay long on breakout above 110W SMA, target 0.7230/ 0.7310
The antipodean also helped by Chinese Caixin Manufacturing PMI data that managed to hold above the 50.0 critical level.
Asians stocks are solidly bid Thursday as China's leadership signaled that further stimulus is being planned to counter the economic slowdown.
Technical studies are bullish. The pair has shown a break above daily cloud and we see scope for further upside.
The pair is now testing 110-EMA at 0.7178, break above to see upside till 61.8% Fib at 0.7312.
Support levels - 0.7145 (38.2% Fib), 0.7095 (55-EMA)
Resistance levels - 0.7178 (110-EMA), 0.7229 (50% Fib), 0.7312 (61.8% Fib)
Stay long on breakout above 110W SMA, target 0.7230/ 0.7310
註釋
Breaks above 50% fib. On track to test 200 SMA at 0.73
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