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Thomson Reuters
Feb 28 - 02:36 AM
AUD/USD - Ends Up Where It Started After Whippy Session
First appeared on eFXplus on Feb 27 - 10:30 PM
  • AUD/USD opened around 0.7140 and popped higher on strong Aus Capex
  • Headline Q4 Capex +2% vs +0.5% exp and forward estimates solid as well
  • It traded to 0.7167 before decent selling emerged to push it back to 0.7150
  • Weaker than expected China Feb PMI sent AUD/USD down to 0.7130
  • It held above yesterday's 0.7127 low and is back at opening level at 0.7140
  • Key will be offshore reaction to China PMI and performance of commodities
  • Support at yesterday's 0.7127 low and break targets sub-0.7100
  • Resistance at 0.7200/10 proving stubborn after multiple fails

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