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1 Mar 2013
Forex: AUD/USD little moved around 1.0220
Aussie is not catching up enough steam so far, following both PMI China data, the official and the final HSBC one. Both of them came in in line with expectations, being the official one 0.01 lower than expected, while HSBC came in exactly as the previous one at 50.4. Probably more worried on US “sequester”, that will take place automatically in about 2 hours time when midnight strikes in NY, as “Congress on Thursday abandoned efforts to avert the cuts and left town for the weekend,” said the Washington Post.
AUD/USD is last at 1.0224, off fresh session highs at 1.0231, about 6 pips above Asian session start, and up from session lows at 1.0205 printed on official PMI China. The pair is down -0.99% for the week so far, while local share markets trade in the light red over all, and Gold recovers above the $1580 mark. “Plenty of bids waiting on sub-1.0200 dips,” says FXWW founder Sean Lee for AUD/USD pair.
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.
AUD/USD is last at 1.0224, off fresh session highs at 1.0231, about 6 pips above Asian session start, and up from session lows at 1.0205 printed on official PMI China. The pair is down -0.99% for the week so far, while local share markets trade in the light red over all, and Gold recovers above the $1580 mark. “Plenty of bids waiting on sub-1.0200 dips,” says FXWW founder Sean Lee for AUD/USD pair.
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.