Australia Composite PMI final 50.2 versus 49.4 preliminary.

• Prior month composite 50.2
• prior month services PMI 51.0
• Composite PMI final 50.2 versus 49.4 preliminary
• Services final 50.5 versus 49.6 preliminary

Getting back above the 50.0 levels versus the preliminary for both the manufacturing and the services PMI is a positive. However, the services index is still lower than plasmas 51.0 and 50.5 this month. The composite was unchanged 50.2.

The AUDUSD is little changed after trading up and down in yesterdays tradinng:

Technically, the 100 and 200-hour moving averages come in at the new converged 0.9494 level. Above that is the falling 100 bar moving average on the 4-hour chart and 0.9499. Getting above the 0.9500 level would, therefore, be more positive technically for the AUDUSD pair. The high price yesterday stalled just above its falling 100 bar moving average on the 4 hour chart.

This article was written by Greg Michalowski at www.forexlive.com.