Stock market lights a spark under AUD
A rise in stock markets is spilling over to some strength for AUD and EUR.
The Australian dollar is at the highs of the day at 1.0250 after falling as low as 1.0202 shortly after the open. The soft Chinese weekend data was a concern but the takeaway from most analysts is that Chinese New Year celebrations may have skewed the numbers.
AUD/USD offers extended from 1.0250 to 1.0260. Friday’s high of 1.0289 is the subsequent level of resistance.