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21 Mar 2013
Forex: AUD/USD muted post-HSBC PMI China around 1.0380
FXstreet.com (Barcelona) - Better than expected HSBC flash manufacturing PMI China at 51.7 vs 51.2 is pushing AUD/USD slightly to the upside last at 1.0387 though still capped below the 1.0393 mark, session highs so far. Reaction seems to be heavier on USD across the board weakening the greenback across specially against Pound and Euro, but not that much against the Aussie.
Iron ore around fresh 2013 lows near the $130 mark might be weighing on Aussie exchange rate, that doesn't move as higher as the positive data would have suggested, practically unchanged last at 1.0383, off session lows at 1.0368. AUD has also seen selling orders coming from the AUD/NZD front, as NZ 4GDP showed a better result than expected in early Asia-Pacific, taking AUD/NZD to fresh weekly lows 1.2528, last at 1.2559.
Immediate resistance to the upside for AUD/USD shows at mentioned session highs 1.0393, followed by yesterday's highs 1.0407, and Mondays/Friday's highs at 1.0410/5. To the downside, closest support lies at recent session lows 1.0368, followed by Tuesday's lows at 1.0350, and Monday's weekly lows at 1.0340.
Iron ore around fresh 2013 lows near the $130 mark might be weighing on Aussie exchange rate, that doesn't move as higher as the positive data would have suggested, practically unchanged last at 1.0383, off session lows at 1.0368. AUD has also seen selling orders coming from the AUD/NZD front, as NZ 4GDP showed a better result than expected in early Asia-Pacific, taking AUD/NZD to fresh weekly lows 1.2528, last at 1.2559.
Immediate resistance to the upside for AUD/USD shows at mentioned session highs 1.0393, followed by yesterday's highs 1.0407, and Mondays/Friday's highs at 1.0410/5. To the downside, closest support lies at recent session lows 1.0368, followed by Tuesday's lows at 1.0350, and Monday's weekly lows at 1.0340.