1 Jul 2013
AUD/USD above 0.9150 on better PMI China than expected
FXstreet.com (Barcelona) - No strong reaction in AUD/USD trading last at 0.9139 unchanged for the session so far, after NBS Manufacturing PMI China posting a better than expected result at 50.1 although still below previous of 50.8.
Still bearish looking for a test of 0.90
“AUD/USD traded very bearishly on Friday afternoon in Asia and the technical outlook certainly looks bearish for a test of levels below .9000,” said FXWW founder Sean Lee. After fourth consecutive month with a lower NBS Manufacturing PMI China figure, next will come HSBC Mfg PMI final in 45 minutes.
Key technical levels
Immediate resistance to the upside for AUD/USD shows at June 20 lows 0.9160, followed by June 21 lows at 0.9181, and June 25 lows at 0.9197.To the downside, closest support lies at Friday's/session fresh almost 3-year lows 0.9111/06, followed by Feb 04 2008 highs at 0.9102, and Jan 01 2008 highs at 0.9022.
Still bearish looking for a test of 0.90
“AUD/USD traded very bearishly on Friday afternoon in Asia and the technical outlook certainly looks bearish for a test of levels below .9000,” said FXWW founder Sean Lee. After fourth consecutive month with a lower NBS Manufacturing PMI China figure, next will come HSBC Mfg PMI final in 45 minutes.
Key technical levels
Immediate resistance to the upside for AUD/USD shows at June 20 lows 0.9160, followed by June 21 lows at 0.9181, and June 25 lows at 0.9197.To the downside, closest support lies at Friday's/session fresh almost 3-year lows 0.9111/06, followed by Feb 04 2008 highs at 0.9102, and Jan 01 2008 highs at 0.9022.