Some very poor Chinese non-manufacturing PMI data is being ignored this morning and the AUD/USD is following the lead of the EUR/USD instead and edging higher. Of course tomorrow’s line-ball RBA rate decision is the major risk event for the AUD this week.
AUD/USD is trading at 1.0265 but there is solid technical resistance forming at 1.0330 which should prove difficult to overcome pre-RBA.
