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1 Mar 2013
Forex: AUD/USD retracing from yesterday’s tops
The Aussie dollar was unable to sustain Thursday’s highs above 1.0280, retracing those gains to overnight lows in the boundaries of the key 1.0200 handle, although advancing some pips since then.
In the data front, the manufacturing PMI in China came in softer than expectations, although a bit of an improvement showed the RBA Commodity Index SDR during February, contracting 7.2% vs. -8.9% in January.
At the moment, the cross is advancing 0.15% at 1.0230 facing the next barrier at 1.0290 (high Feb.28) ahead of 1.0292 (high Feb.26) and finally 1.0314 (MA21d).
On the downside, a break below 1.0192 (low Feb.28) ahead of 1.0186 (low Feb.28) and then 1.0183 (2013 low Feb.27).
In the data front, the manufacturing PMI in China came in softer than expectations, although a bit of an improvement showed the RBA Commodity Index SDR during February, contracting 7.2% vs. -8.9% in January.
At the moment, the cross is advancing 0.15% at 1.0230 facing the next barrier at 1.0290 (high Feb.28) ahead of 1.0292 (high Feb.26) and finally 1.0314 (MA21d).
On the downside, a break below 1.0192 (low Feb.28) ahead of 1.0186 (low Feb.28) and then 1.0183 (2013 low Feb.27).