Flash: AUD/USD finds some support - Danske Bank

Danske Bank analysts note that Over the past 24 hours we have finally seen some support to AUD and AUD/USD has jumped from below 0.89 at the start of the week to currently 0.91.

Key Quotes

“The recent move higher in the cross was fueled by the better-than-expected Chinese data seen recently.

“If today’s Chinese data also surprise positively, further upside should be expected not least as speculative shorts in AUD remain very stretched.