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Sep 16, 2014
AUD/USD jumps above 0.9100 amid China and Hilsenrath
FXStreet (San Francisco) - The Aussie is currently jumping versus the US dollar following news from China that the country boosted liquidity to the five largest banks in the country up to of 500 billion Yuan. In addition, Fedwatcher Hilsenrath affirmed in a recent report that the Fed is far from hike rates.
"Traders hope the cash injections revive lending and that the lending revives sluggish economic growth which has had ripple effects on the Australian economy, particularly the mining sector," points out Jamie Coleman from FXBeat.
After climbing 90 pips from 0.9020 the AUD/USD jumped above the 0.9100 level. Currently, AUD/USD is trading at 0.9098, up 0.79% on the day, having posted a daily high at 0.9114 and low at 0.8989.
The FXStreet OB/OS Index is reflecting overbought hourly conditions, while the FXStreet Trend Index is slightly bullish.
AUD/USD Levels
If the pair manages to hold levels above 0.9100, it will face next resistances at 0.9160 and 0.9220. On the downside, supports are at 0.9050, 0.9000 and 0.8980.
"Traders hope the cash injections revive lending and that the lending revives sluggish economic growth which has had ripple effects on the Australian economy, particularly the mining sector," points out Jamie Coleman from FXBeat.
After climbing 90 pips from 0.9020 the AUD/USD jumped above the 0.9100 level. Currently, AUD/USD is trading at 0.9098, up 0.79% on the day, having posted a daily high at 0.9114 and low at 0.8989.
The FXStreet OB/OS Index is reflecting overbought hourly conditions, while the FXStreet Trend Index is slightly bullish.
AUD/USD Levels
If the pair manages to hold levels above 0.9100, it will face next resistances at 0.9160 and 0.9220. On the downside, supports are at 0.9050, 0.9000 and 0.8980.