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AUDUSD moves higher, January 14 2013 January 14, 2013


The Australian dollar was traded higher against the greenback today in AUDUSD, as market sentiment was influenced by the impending speech by Federal Reserve Chairman Ben Bernanke later this day.

During the late Asian trade, the currency pair AUDUSD hit the level 1.0562, highest level for this session and later on it was consolidated at 1.0557, gaining 0.19%.

The pair AUDUSD was supposed to meet support at 1.0494, bottom level from January 10 and resistance at 1.0591, peak from January 11.

The U.S. dollar became weak before the speech by Ben Bernanke on monetary policy and the recovery from the global financial crisis that is expected to be held later this day. Fed chairman is supposed to repeal speculation over an earlier end to the central bank’s quantitative easing program.

Also, risk sentiment found support after European Central Bank President Mario Draghi announced last week that a consecutive recovery in the euro zone economy is going to start this year.

In Australia,  official data indicated that job advertisements decreased with 3.80% in December, after a 2.80% fall the previous month.

At the same time, the Aussie was traded stable against the euro with EURAUD hitting the level 1.2665.

Later today, the euro zone is about to publish official data on industrial production.



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