Forex: AUD/USD in session lows around 1.0230

FXstreet.com (Barcelona) - The Aussie dollar is navigating the lower end of today’s range around 1.0230/35 after the disappointing print from the Chinese PMI. Tepid domestic data also showed that Building Permits contracted 5.5% on a monthly basis, Export Prices rose 2.8% QoQ in the first quarter and Import Prices came in flat during the same period.

“We still expect that the RBA will wait until June to see if the recent weakness in the housing data continues, but a very weak retail sales release on Monday could potentially sway the RBA to cut earlier when they meet on Tuesday”, commented S.Papadopoulos, Strategist at NAB.

At the moment, AUD/USD is down 0.41% at 1.0236 facing the next support at 1.0232 (low Apr.24) and then 1.0221 (low Apr.23).
On the upside, a breakout of 1.0297 (MA10d) would bring 1.0300 (hourly high May 1) and finally 1.0330 (low Apr.30).