The Australian dollar enjoyed a better mood in Europe and jumped higher, finally crossing the important 0.9660 line. This line provided strong support in recent weeks and turned into strong resistance in recent days. Earlier in the day, Australian GDP disappointed with a modest rise of 0.2% in Q3, while expectations stood on 0.5%. Also the figure for Q2 was revised to the downside, from 1.2% to 1.1%. But the Aussie only fell to the 0.9540 support level – it didn’t go lower. And then good news came along – soon after the GDP release, Chinese Manufacturing PMI was released and it was slightly better than expected – 55.2 instead of 54.8. The Aussie bounced quickly. This shows over and over again how the Australian dollar depends on China. But, it’s important to note that it wasn’t enough to send AUD/USD above resistance. The improved mood in Europe made the difference. ECB president Jean-Claude Trichet hinted that bond buying would resume. Yields on Euro-zone peripherals finally fell after reaching record highs, the Euro rose, stocks rose, and the Aussie finally cut through. The next hurdle is 0.9724, which was the bottom border of a range between 0.9724 and 0.9863. For more technical levels and analysis, see the AUD/USD forecast. Want to see what other traders are doing in real accounts? Check out Currensee. It’s free.. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next Hezbollah / Israel Exchange Warnings on Lebanon Tensions Yohay Elam 12 years The Australian dollar enjoyed a better mood in Europe and jumped higher, finally crossing the important 0.9660 line. This line provided strong support in recent weeks and turned into strong resistance in recent days. Earlier in the day, Australian GDP disappointed with a modest rise of 0.2% in Q3, while expectations stood on 0.5%. Also the figure for Q2 was revised to the downside, from 1.2% to 1.1%. But the Aussie only fell to the 0.9540 support level - it didn't go lower. And then good news came along - soon after the GDP release, Chinese Manufacturing PMI was released… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
