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23 Jun 2015
AUD/USD bulls relieved on Chinese data
FXStreet (Guatemala) - AUD/USD is currently trading at 0.7721 with high of 0.7798 and a low of 0.7720.
AUD/USD bulls take some relief in the Chinese data that has come out in the moments of writing beating expectations after the Aussie slipped prior to the release from 0.7735 to aforementioned lows. the data arrived in the form of HSBC manufacturing PMI for June at 49.6 vs 49.4 expected.
However, the Aussie is still under threat from RBA officials sighting the currency as too strong still with the latest member to announce this being RBA's Board member Edwards. Metals have also been weighing on the Aussie. In the 4 hours chart, Valeria Bednarik, chief analyst at FXStreet explained the price failed to settle above its 200 EMA, now providing dynamic resistance around 0.7770.
"Technical indicators have lost their bearish slopes well below their mid-lines, suggesting a downward extension below 0.7690 is required to see a new leg lower this Tuesday, towards this month lows in the 0.7600 region."
AUD/USD bulls take some relief in the Chinese data that has come out in the moments of writing beating expectations after the Aussie slipped prior to the release from 0.7735 to aforementioned lows. the data arrived in the form of HSBC manufacturing PMI for June at 49.6 vs 49.4 expected.
However, the Aussie is still under threat from RBA officials sighting the currency as too strong still with the latest member to announce this being RBA's Board member Edwards. Metals have also been weighing on the Aussie. In the 4 hours chart, Valeria Bednarik, chief analyst at FXStreet explained the price failed to settle above its 200 EMA, now providing dynamic resistance around 0.7770.
"Technical indicators have lost their bearish slopes well below their mid-lines, suggesting a downward extension below 0.7690 is required to see a new leg lower this Tuesday, towards this month lows in the 0.7600 region."