The AUD/USD was lower in Asian trade Monday, weighed in part by the continued weakness in China’s official manufacturing PMI data. The pair was trading at session best levels $1.0270 around the Tokyo open, but soon started to give up ground, hitting a low at $1.0213. Profit-taking kicked in around the lows, helping the pair rally to $1.0230 into the European open. Offers are reported at $1.0275/80 and $1.0300, with stops believed to be sitting at $1.0315/20. Bids below are at $1.0200/05.
EasyForexNews Research Team