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May 01 - 08:55 PM

AUD/USD - Steady Start As Weak China PMI Shrugged Off For Now

By John Noonan  —  May 01 - 06:50 PM
  • AUD/USD opened Asia with a bid tone and traded up to 0.7075 in early Asia

  • It has since settled around 0.7065 - up from Friday close at 0.7059

  • Early Asia not reacting to the weak China PMI released in the weekend nL3N2WQ18I

  • Much of Asia is out today on holiday so trading might be thin and light

  • AUD/USD may consolidate ahead of RBA decision tomorrow - which is live nL3N2WP2GS

  • Support is at last week's 3-month low at 0.7055 and break targets 0.6967

  • AUD/USD trending lower with the 5, 10 & 21-day MAs in a bearish alignment

  • A break above the 10-day MA @ 0.7209 would ease pressure and suggest bottom forming

  • For more click on FXBUZ










aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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