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1 Mar 2013
Forex: AUD/USD slightly weaker post-PMI China
AUD/USD slips slightly to the downside, last at 1.0207, with latest PMI China a bit lower than expected at 50.1, when estimated was at 50.2. The reaction in the pair is not very strong so far, coming lower from previous 1.0220 to the data, now about 30 more minutes away from final HSBC PMI.
ASX in down so far -0.55% for the day, while Nikkei index is down -0.2%, and Gold is holding above the $1580 mark. According to market sources, there is good demand in AUD/USD below the 1.0195/80 level
Immediate support to the downside for AUD/USD lies at Tuesday's lows 1.0200, followed by Wednesday's fresh 4-month lows at 1.0180, and Sept 05 lows at 1.0160. To the upside, nearest term resistance shows at Monday's lows 1.0247, followed by Monday's Asian session lows at 1.0260, and yesterday's/Tuesday's highs at 1.0290/5.
ASX in down so far -0.55% for the day, while Nikkei index is down -0.2%, and Gold is holding above the $1580 mark. According to market sources, there is good demand in AUD/USD below the 1.0195/80 level
Immediate support to the downside for AUD/USD lies at Tuesday's lows 1.0200, followed by Wednesday's fresh 4-month lows at 1.0180, and Sept 05 lows at 1.0160. To the upside, nearest term resistance shows at Monday's lows 1.0247, followed by Monday's Asian session lows at 1.0260, and yesterday's/Tuesday's highs at 1.0290/5.