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2 Apr 2014
AUD/USD - Sharp setback on disappointing housing data
FXStreet (Bali) - The Australian Dollar fell sharply from a session high of 0.9250 after disappointing housing data out of Australia.
Building approvals in Australia for the month of February (MoM) came at -5% vs -2.5% expected and +6.9% in January, with the private house approvals standing at -2.1% vs 8.4% last month.
The pair broke the .9230, even if marginally, with .9220 support the next target coming into play. From an hourly perspective, the market profile has entered a consolidation phase, with a break of .93 or .9215 required to set the next directional bias.
Building approvals in Australia for the month of February (MoM) came at -5% vs -2.5% expected and +6.9% in January, with the private house approvals standing at -2.1% vs 8.4% last month.
The pair broke the .9230, even if marginally, with .9220 support the next target coming into play. From an hourly perspective, the market profile has entered a consolidation phase, with a break of .93 or .9215 required to set the next directional bias.