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21 May 2015
AUD/USD soft on Chinese HSBC Manufacturing miss
FXStreet (Guatemala) - AUD/USD is currently trading at 0.7871 with a high of 0.7875 and a low of 0.7864.
AUD/USD has been soft on the release of China’s HSBC measure in the Manufacturing PMI for May that arrived at 49.1 in May vs 49.3 expected and 48.9 in April. We are somewhere off from the lows overnight still that were created on the release of the FOMC on the volatility of the event.
The FOMC event did not come with any surprises and it confirmed that June was not a month most members are voting for a rate hike while their optimism still remained for the economy's growth outlook. Technically, AUD/USD's downside is compelling still and will remain so below the 0.7790/86 55 DMA and 61.8% retracement. Next significant support is sighted at 0.7950 guarding furthersupport at 0.7865.
AUD/USD has been soft on the release of China’s HSBC measure in the Manufacturing PMI for May that arrived at 49.1 in May vs 49.3 expected and 48.9 in April. We are somewhere off from the lows overnight still that were created on the release of the FOMC on the volatility of the event.
The FOMC event did not come with any surprises and it confirmed that June was not a month most members are voting for a rate hike while their optimism still remained for the economy's growth outlook. Technically, AUD/USD's downside is compelling still and will remain so below the 0.7790/86 55 DMA and 61.8% retracement. Next significant support is sighted at 0.7950 guarding furthersupport at 0.7865.