AUD/USD: Getting boost from iron-ore price rises
Comments overnight from Premier Wen that China has scope for further stimulus have boosted the iron ore price yet again and this has encouraged more AUD/USD short-covering. Where have all last week’s bears gone? Initial resistance comes in on the daily chart near 1.0550. High so far 1.0480. Sell orders reported at 1.0505/10.
Click here for full AUD/USD technical analysis.