2 Sep 2013
AUD/USD spikes above 0.8920 on better China PMI
FXstreet.com (Barcelona) - The AUD/USD foreign exchange rate is last quoted at 0.8931 off session highs at 0.8948 printed on interbank pre-market weekly open in early Asia-Pacific following a better than expected China manufacturing PMI coming out at 51 vs. 50.6 forecast and previous 50.3, improving for third month in a row.
AUD/USD also helped on AUD/JPY higher
“AUD/USD is a bit higher in early interbank trade, currently around .8940 and USD/JPY is also a bit higher, trading now around 98.45 from a close on Friday near 98.20. Decent PMI data out of China over the weekend have helped the cause,” said FXWW founder Sean Lee, adding: “Today is a US holiday which might keep things subdued but the market should start returning to ‘normality’ tomorrow. Good luck today.”
AUD/USD key technical levels
Immediate resistance to the upside for AUD/USD shows at recent session highs 0.8948, followed by Friday's highs at 0.8960, and Thursday's highs at 0.8980. To the downside, closest support lies at Friday's/Wednesday's lows 0.8897/93, followed by August 02 lows at 0.8867, and August 05 lows at 0.8846.
AUD/USD also helped on AUD/JPY higher
“AUD/USD is a bit higher in early interbank trade, currently around .8940 and USD/JPY is also a bit higher, trading now around 98.45 from a close on Friday near 98.20. Decent PMI data out of China over the weekend have helped the cause,” said FXWW founder Sean Lee, adding: “Today is a US holiday which might keep things subdued but the market should start returning to ‘normality’ tomorrow. Good luck today.”
AUD/USD key technical levels
Immediate resistance to the upside for AUD/USD shows at recent session highs 0.8948, followed by Friday's highs at 0.8960, and Thursday's highs at 0.8980. To the downside, closest support lies at Friday's/Wednesday's lows 0.8897/93, followed by August 02 lows at 0.8867, and August 05 lows at 0.8846.