AUD/USD: The Australian dollar rallied above the 0.7100 handle after data showed China’s January dollar-denominated exports rose 9.1 percent from a year earlier, while imports dropped 1.5 percent, both beating expectations. The Aussie trades 0.4 percent up at 0.7119, having hit a high of 0.7135 on Wednesday; it’s highest since February 6. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.7044 (Dec. 26 Low), a break below targets 0.7016 (Dec. 27 Low). On the upside, resistance is located at 0.7166 (January 24 High), a break above could take it near 0.7203 (January 28 High).
AUD/USD daily chart