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Forex: AUD/USD - recovering back to 9850

FXstreet.com (London) - The Aussie picked has way back up, dusting off the hits from the stop losses to the 200w ma location again on the back of poor US data.

The pair had been toying with 0.9800 the figure in the early start of the European session but easily found its way back up above 0.9820 support zone in the afternoon. US data helped it to recover further while a lack of domestic and vague technical data below 0.9700 until 0.9660 means that traders are likely to be focused on the USD and commodity markets from here on. On the short side, the market appears to be hesitant in selling into dips and resistance lies at 0.9920.

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