AUD/USD recovers ground
At the end of the previous week AUD/USD came under pressure, but found support in the $0.9365 region. On Monday Aussie strengthened to $0.9440 on upbeat China’s manufacturing PMI (51.2, highest since March). The next resistance for the pair lies in the $0.9500/30 area (38.2% Fibo, last week’s 3-month high). Important support is seen at $0.9365, $0.9350, $0.9280 and $0.9225.
This week there are not many releases on the Australia’s agenda, so the market will focus on the US data. Today watch the US manufacturing PMI and Fed’s Dudley speech.
Chart. H4 AUD/USD