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AUD/USD declines after US ISM data

By FXstreet.com,  July 02, 2012, 10:12:00 AM EDT

FXstreet.com (San Francisco) - The AUD/USD has reacted down after the weaker than expected June ISM manufacturing data in the US with the pair falling from 1.0260 zone to trade at the 1.0225 region.

Unexpectedly, the ISM manufacturing PMI in June is at a contraction figure of 49.7, below the 50.0 line.

Currently the pair is pricing at 1.0229, 0.33% below opening price action. Pair looks "Slightly Bearish" and "Overbought" according to the FXstreet.com technical studies.

The technical analysts at ICN.com confirm the next support levels at 1.0220, followed by 1.0185, and finally 1.0125. On the upside, a beach of 1.0370 would enable the resistances of 1.0310, and ultimately 1.0415.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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