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FXstreet.com (Barcelona) - The Australian Dollar is surging across the board courtesy of very strong China trade numbers, with the trade balance recording31.6 bn $vs 19.7 bn $ exp. Exports rose by 14.1% vs 4% exp while imports doubled up from estimates, at 6% vs 3% exp. AUD/USD has touched a session high of 1.0525, as a break through 1.0530 brews.

The AUD/USD finds its next challenge at 1.0533, high from the last American session. Above, the sky looks blue until 1.0575, Dec highs. On the downside, price seems to be respecting to the teeth the 20EMA on the H4 chart as dynamic support, currently around 1.0495. No doubt the Chinese data should see plenty of dip buyers while keep chances of further upside resolution likely.

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