The aussie's woes are far from over and continues to be sensitive against the Chinese economy, as the AUD/USD pair slid after the release of the softer-than-expected HSBC Manufacturing PMI from China.
The PMI came out at 49.5, which was slightly lower than the expected 49.6. The previous figure was at 50.5. This dragged the AUD/USD pair below the 0.8750 level early in today's trading. It is currently trading at 0.8731, with initial resistance seen at 0.8780, followed by 0.8802. Meanwhile, initial support is at 0.8677, followed by 0.8655.
The aussie also came out weaker against the euro after the release of the Chinese Manufacturing PMI. The EUR/AUD rose to the 1.5650 zone just after the release of the data. Prior to that, the pair bottomed at 1.5473. It is currently trading at 1.5630, with initial resistance seen at 1.5737, followed by 1.5776. Meanwhile, initial support is at 1.5555, followed by 1.5516.
The same story happened to the AUD/JPY in today's trading. The pair began to slide late yesterday after the market took a 'risk off' mood after the Asian session's 'risk on' attitude. Since then, the pair sank under the 90.0 zone. The pair is currently trading is at 89.21, with initial resistance seen at 90.20, followed by 90.43. Meanwhile, initial support is at 88.07, followed by 87.85.
It wasn't just the aussie that became affected by the soft Chinese Manufacturing PMI. This also dragged the NZD/USD to 4-week lows under the 0.8200 area. Before this, the pair already suffered a sharp decline after the RBNZ's interest rate decision, wherein the bank decided to maintain rates at 2.5%. The RBNZ also said that it plans on raising rates again soon.
The pair is currently trading at 0.8179, with initial resistance seen at 0.8250, followed by 0.8271. Meanwhile, initial support is at 0.8127, followed by 0.8107.
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