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AUD/USD consolidating around 1.0225

By FXstreet.com,  July 10, 2012, 08:18:00 AM EDT

FXstreet.com (Barcelona) - The Australian dollar has continued to appreciate against the greenback during the afternoon European trading. The pair has operated in the range of 1.0158 and 1.0247 today, most notably dictated by the mixed bag of Chinese economic during the Asian session this morning.

According to UBS analyst Geoffrey Yu, "We remain firmly neutral on the pair, with a strong short term support at 1.0145 followed by 1.0108, with resistance is at 1.0329. Our perspective for one month is 0.9700, falling to 0.9500 after three months."

In the U.S., the NFIB Business Optimism Index (June) gave a score of 91.4, from 94.4 the previous month. At the time of writing, the cross is operating in the area of 1.0225, advancing at a rate of +0.17% above its opening price.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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