Forex - AUD/USD up in U.S. trade

Forexpros – The Australian Dollar was higher against the U.S. Dollar on Tuesday after the release of U.S. data on Housing Starts.

AUD/USD was trading at 1.0720, up 1.07% at time of writing.

The pair was likely to find support at 1.0561, Monday’s low, and resistance at 1.0786, Thursday’s high.

Earlier in the day, official data showed that the number of housing starts in the U.S. rose more-than-expected to a seasonally adjusted 0.63M last month, from 0.55M in the preceding month whose figure was revised down from 0.56M.

Analysts had expected the number of housing starts to rise to 0.57M last month.

Meanwhile, the Australian Dollar was up against the Euro and the Japanese Yen, with EUR/AUD shedding 0.78% to hit 1.3202 and AUD/JPY rising 1.09% to hit 84.75.

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