FXstreet.com (Barcelona) - The Aussie dollar has reacted positively to the Chinese improvement of the manufacturing PMI, returning to the expansionary territory after three months. But the intraday upside has proved to be short-lived so far, falling from session highs above 1.0380 to levels below 1.0360 as of writing.
In the data front, a gauge of the Australian manufacturing sector was brought in a better AIG Performance of Mfg Index, rising to 45.2 in September from 44.1; continuing with the results, import prices dropped 2.4% during the third quarter. Export prices followed suit, contracting 6.4%. Both prints were below estimates at -1.2% and -6.0%, respectively.
As of writing, the cross is down 0.15% at 1.0361 with the next support at 1.0306 (low Oct.26) ahead of 1.0283 (MA21d) then 1.0260 (low Oct.24) and 1.0236 (low Oct.23).
Resistance levels, instead, are located at 1.0397 (high Oct.25) then 1.0412 (high Oct.18) and 1.0413 (Upper Bollinger).
In the data front, a gauge of the Australian manufacturing sector was brought in a better AIG Performance of Mfg Index, rising to 45.2 in September from 44.1; continuing with the results, import prices dropped 2.4% during the third quarter. Export prices followed suit, contracting 6.4%. Both prints were below estimates at -1.2% and -6.0%, respectively.
As of writing, the cross is down 0.15% at 1.0361 with the next support at 1.0306 (low Oct.26) ahead of 1.0283 (MA21d) then 1.0260 (low Oct.24) and 1.0236 (low Oct.23).
Resistance levels, instead, are located at 1.0397 (high Oct.25) then 1.0412 (high Oct.18) and 1.0413 (Upper Bollinger).
