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Forex: AUD/USD awaits Aus PPI Q1 below 1.0260

FXstreet.com (Barcelona) - AUD/USD is currently at 1.0256 bids, pressing against session highs at 1.0260 following the AIG Services index for Australia that showed the worst result in last 4 months at 44.1, easing from previous at 49.6. With China and Japan both closed today again this week, domestic ASX index futures are at break even for the day.

Later on PPI Q1 for Australia at 01:30 GMT will be next risk event for the session until US NFP comes out by late London trade at 12:30 GMT. The pair has managed to hold above mid term ascending trendline earlier in the European morning building an intraday double low at key support line 1.0222, tested again for third time following US jobs data.

Immediate resistance to the upside for AUD/USD shows at NY session highs at 1.0262, followed by Wednesday's lows at 1.0270, and April 24 highs at 1.0298. To the downside, closest support lies at session lows 1.0243, followed by yesterday's fresh 7-day lows at 1.0222, and March 11 lows at 1.0200.

Australia AiG Performance of Services Index decreases to 44.1 in Apr from 49.6

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Forex Flash: Stay short AUD/NZD – UBS

The AUD/NZD finished the day down 20 pips at 1.2060 (lowest daily close since Oct 2009). The pair has been in a steep downtrend for the last six weeks, and some analysts see no reason to expect anything different going forward.
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