Aussie dollar retracing after making a false move over 0.9312

Aussie dollar retracing after making a false move over 0.9312

AIG Manufacturing PMI contracted for the 6th consecutive month, with April data decline further as compare with March. 

AIG report noted “conditions remain extremely difficult in the manufacturing export markets”, although inventories subindex nearly returned to stabilisation. The Employment subindex – the most telling of the AIG components – contracted at a faster pace.

AUDUSD is unable to sustain its uptrend momentum after making a false move breaking over 0.9319. If 0.9252 level is broken, down trend will resume.

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