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AUD/USD: Bearish tide recedes, 0.87 re-taken

FXStreet (Bali) - AUD/USD is running an impressive intraday recovery off 0.8650 lows, currently at 0.8725/30 day highs following Chinese trade numbers, which came below market expectations.

Jim Langlands, Founder at FXCharts, notes: "On the topside, 0.8700 will now see sellers ahead of minor resistance at 0.8730, the 200 HMA at 0.8760 (200 HMA) and the 100 HMA at 0.8785." However, Jim adds, that "the trend remains lower, so a break of 0.8642 would then find bids at the July 2013 low of 0.8632 ahead of 0.8600."

China trade falls short amid growth in imports

China Trade Balance came at $31B, below a forecast of 41B in September, with imports (YoY) standing at 7%, which comes above expectations of -2.7% in September, while exports (YoY) also came above expectations, at 15.3% vs 11.8% last.
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No recipe in place for further aggressive AUD falls - Westpac

Rob Rennie, head of currency research at Westpac, thinks that there is no recipe in place for a further aggressive falls in the Aussie, although he recognizes that there are some risks in the short term.
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