AUDUSD-Perspective

While some economist have been inclined to state that China may experience a hard landing; the most recent net export data increasing by +14% for December equivalent to a 5.0% growth figure beating market expectations have been very good & proven otherwise.

This only shows China's resilient economy is picking up which would benefit the Aussie Dollar. As a major counter party to China's economy, the AUDUSD have gained back its losses from a previous low @1.0395/00. And is currently working at the 1.0550 higher levels as of today's writing. Although, the previous week's trading have been in a corrective tone for the AUDUSD, the increased level of market confidence from the recent data is fueling a retest of the AUDUSD above the 1.0550 first line of resistance and heading to its December 12, 2012 high @1.0585 level.

As current market sentiments have surged from the previous decline in prices @1.0344; the gradual price rally have sustained so far with a couple of rapid price action on both directions on the first two trading days entering the new month of January. The Aussie Dollar chart formation has the market potential to become a reinforced Trend depending on the final outcome for the USD directional movement in the weeks ahead.