Investing.com – Australia’s dollar was up against its U.S. counterpart on Monday, surging to a 5-month high, as risk appetite was lifted after upbeat Chinese economic data boosted global growth hopes.
AUD/USD hit 0.9329 during European morning trade, the pair’s highest since April 21; the pair subsequently consolidated at 0.9327, gaining 0.65%.
The pair was likely to find support at 0.9091, the low of September 7, and resistance at 0.9363, the high of April 15.
On Saturday, official Chinese data showed that Chinese industrial production rose more than expected in August, while consumer prices rose in line with expectations easing concerns over a slowdown in the world’s second-largest economy.
Meanwhile, the Aussie was down against the euro, with EUR/AUD gaining 0.36% to hit 1.3732.
Later in the day, the National Australia Bank was to release data on business confidence.
AUD/USD hit 0.9329 during European morning trade, the pair’s highest since April 21; the pair subsequently consolidated at 0.9327, gaining 0.65%.
The pair was likely to find support at 0.9091, the low of September 7, and resistance at 0.9363, the high of April 15.
On Saturday, official Chinese data showed that Chinese industrial production rose more than expected in August, while consumer prices rose in line with expectations easing concerns over a slowdown in the world’s second-largest economy.
Meanwhile, the Aussie was down against the euro, with EUR/AUD gaining 0.36% to hit 1.3732.
Later in the day, the National Australia Bank was to release data on business confidence.