News and Market Analysis

China helping in an anti dollar rally

AUD/USD Extends is run above 0.7300 on the back of the September meeting minutes and positive Chinese activity numbers. Whilst EUR/USD remains stronger due to ongoing dollar weakness. As it nears 1.19 the Euro was another currency to benefit from the data dump from China. China saw retail sales and industrial production for August come in positive showing that they are returning to normal whilst the dollar struggles to find its feet. There are some key levels to look out for here with a break beyond 1.1900 could see the Euro test 1.1919. Should it break resistance here a target of 1.2011 is on the cards. However and break bellow 1.1888 could see it look for support 1.1832 and 1.1781.

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