21 May 2015
AUD/USD: Bulls attempts diluted in broader bear trend
FXStreet (Guatemala) - AUD/USD is currently trading at 0.7887 with a high of 0.7915 and a low of 0.7864.
AUD/USD has been bid on the US session given the poor data from America. Markit Manufacturing PMI (May) was a miss of 53.8 vs 54.5 expected as was the Philadelphia Fed Manufacturing Survey (May) failing to impress at 6.7 vs 8.0 consensus. Initial jobless claims were also a disappointment 274k vs 271 expected, and worse than previous at 264k.
The pair is however in a broader bearish trend and fades on rallies might be expected. 0.7896 at the 50 EMA offers resistance and the 100 and 200 EMA at 07945/74 offers selling pressure also below the downside of 0.8161 . Next significant support is sighted at 0.7950 guarding next support at 0.7840 ahead of 0.7560.
AUD/USD has been bid on the US session given the poor data from America. Markit Manufacturing PMI (May) was a miss of 53.8 vs 54.5 expected as was the Philadelphia Fed Manufacturing Survey (May) failing to impress at 6.7 vs 8.0 consensus. Initial jobless claims were also a disappointment 274k vs 271 expected, and worse than previous at 264k.
The pair is however in a broader bearish trend and fades on rallies might be expected. 0.7896 at the 50 EMA offers resistance and the 100 and 200 EMA at 07945/74 offers selling pressure also below the downside of 0.8161 . Next significant support is sighted at 0.7950 guarding next support at 0.7840 ahead of 0.7560.