Back
25 Feb 2013
Forex: AUD/USD consolidates losses below 1.0300
The Aussie dollar is recovering ground lost, after the softer-than-expected Chinese data from the flash manufacturing PMI in February dragged the cross to session lows around 1.0260
“The Aussie should continue to find support on dips to 1.0220/30. AUD is showing less sensitivity to JPY and Bernanke should reiterate that USD printing will remain at full pace for now. Pricing for the RBA meeting next week obviously hinges on Thu’s capex data, which should help limit AUD/USD gains to 1.0380/1.0400”, assessed Sean Callow, Strategist at Westpac.
At the moment, the pair is losing 0.20% at 1.0284 with the next support at 1.0270 (hourly lows Feb.22) and then 1.0223 (low Feb.21).
On the flip side, a surpass of 1.0327 (MA200d) would allow 1.0350 (hourly high/low Feb.20).
“The Aussie should continue to find support on dips to 1.0220/30. AUD is showing less sensitivity to JPY and Bernanke should reiterate that USD printing will remain at full pace for now. Pricing for the RBA meeting next week obviously hinges on Thu’s capex data, which should help limit AUD/USD gains to 1.0380/1.0400”, assessed Sean Callow, Strategist at Westpac.
At the moment, the pair is losing 0.20% at 1.0284 with the next support at 1.0270 (hourly lows Feb.22) and then 1.0223 (low Feb.21).
On the flip side, a surpass of 1.0327 (MA200d) would allow 1.0350 (hourly high/low Feb.20).