Forex: AUD/USD hovering over 1.0550
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AUD/USD
FXstreet.com (Barcelona) - The Aussie dollar is recovering yesterday's losses, as the prevailing risk aversion has dragged the cross to the boundaries of 1.0500 on a stronger US dollar and jitters regarding the 'fiscal cliff'.
The better print out of the advance HSBC manufacturing PMI in China seems to be enough to push the risk associated assets to higher ground on Friday morning, while market participants wait for the PMI readings in the euro zone.
The cross is up 0.23% at 1.0554 at the moment and a break above 1.0562 (high Dec.13) would bring 1.0585 (high Dec.12) and finally 1.0600 (psychological level).
On the other hand, support levels lie at 1.0505 (low Dec.13) followed by 1.0487 (MA10d) and 1.0461 (low Dec.11).
The better print out of the advance HSBC manufacturing PMI in China seems to be enough to push the risk associated assets to higher ground on Friday morning, while market participants wait for the PMI readings in the euro zone.
The cross is up 0.23% at 1.0554 at the moment and a break above 1.0562 (high Dec.13) would bring 1.0585 (high Dec.12) and finally 1.0600 (psychological level).
On the other hand, support levels lie at 1.0505 (low Dec.13) followed by 1.0487 (MA10d) and 1.0461 (low Dec.11).
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