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4 Feb 2013

Australia Dec Building Permits (MoM) -4.4%

Feb 4, 2013

Forex: AUD/USD from highs to lows after Australian building permits

The Australian Dollar has lost its bias tone initiated in early Asian trade after very poor Australian building permits in December, down at -4.4% vs + 1% consensus. The pair, reaching its peak at 1.0430 - descending trendline resistance - has now fallen to session low at 1.0414, printing in the process a 1 hour bearish engulfing candle.
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