FXstreet.com (Barcelona) - The AUD/USD came off today’s highs at 1.0541 ahead of the American opening. Once the NY session started, the pair bounced temporarily from the session low of 1.0512, but selling pressure remains. The cross is still edging higher on the day while above 1.0503.
The ADP employment data indicates +163K jobs in July, less than June’s 172K, but much more than the expected +120K. However, the manufacturing PMI by Markit fell from 52.5 to 51.4, worse than the expected 52.0. Ahead at 14:00 GMT comes the ISM manufacturing PMI in July.
“Above 1.0583 would imply further gains to the 1.0703 2011-2012 resistance line”, wrote Commerzbank analyst Karen Jones.
The ADP employment data indicates +163K jobs in July, less than June’s 172K, but much more than the expected +120K. However, the manufacturing PMI by Markit fell from 52.5 to 51.4, worse than the expected 52.0. Ahead at 14:00 GMT comes the ISM manufacturing PMI in July.
“Above 1.0583 would imply further gains to the 1.0703 2011-2012 resistance line”, wrote Commerzbank analyst Karen Jones.
