AUD/USD remains near 0.8100 after US data

• AUD/USD testing again 0.8100. 
• US Q4 GDP below expectations.

The AUD/USD pair dropped to 0.8060 and rebounded rising to 0.8105 (new daily high). It failed to hold above 0.8100 and it was trading at 0.8090, up 75 pips from yesterday’s close. 

The aussie erased all losses that followed US President Trump comments yesterday about a “strong dollar”. AUD/USD bottomed at 0.8005 before starting the recovery. It is about to post the seventh weekly gain in-a-row and the highest close since January 2015. 

US data released today showed that the economy expanded at a 2.6% rate during the fourth quarter, below the 3.0% expected. Despite the numbers the greenback remained steady in the market. 

Also today US President Trump spoke in Davos at the WEF but this time, his words did not influence on the market. He spoke about the US economy and didn’t talk about the value of the US dollar. US Treasury Secretary Mnuchin earlier today said “a stronger Dollar is in the best interests of US” and that he wasn't trying to move the US dollar with his comments yesterday when he “welcome” the recent depreciation of the greenback. On Friday, the US Dollar erased most of the gains that followed Tump’s comments. 

AUD/USD Technical levels

To the upside, the pair needs to be able to hold on top of 0.8100 that could clear the way for a test of 0.8125 (Sept 2017 high) and the to 0.8160/65. On the flip side, immediate support is seen at 0.8060 (US session low) followed by the 0.8000 handle and 0.7975.