AUD/USD Moves Lower Despite Rebound In Australian New Home Sales

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AUD/USD Moves Lower Despite Rebound In Australian New Home Sales

By Greg Michalowski on March 2, 2009 | More Posts By Greg Michalowski | Forex News By FXDD

The Australian HIA New Home Sales for January came in significantly better at +8.3% then they were in December at -1.1% (revised lower to -1.7%). This has not helped the AUD sustain a positive move as it trades off session lows, right above the .63 cent handle. It is also important to the note the AUD/USD pair broke the trendline support that has developed since the October 2008 lows above the .60 cent handle. See below.

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