Australia’s construction sector is reported to have slowed down in September 2015. According to the recent report published by AiG (Australia Industry Group), the corresponding index dropped down from 53,8 in August to 51,9 points a month ago.
Still, the Australian construction sector keeps on developing. The thing is that any value above 50 is considered a positive one. This is some kind of a green zone. This is an indicator associated with mid-term and long-term prospects. The representatives of 120 construction companies are interviewed to come up with the index value.
With that said, the index is still well above 50, which is a clear indication that the Australian construction sector is still alive despite the mentioned slowdown. By the way, it should be noted that the construction of new homes reached its highest value over the last 11 months in September.
FOREX
As for AUDUSD, Masterforex-V Academy reports that the Aussie is still going up in value against its American counterpart. In particular, the long-really is still underway as the price is developing a new upward momentum.
With that said, the price may encounter resistance around such levels as 0.7278 + 0.7288, 0.7322, 0.7379/86. At the same time, the closest major levels of support are the bottom of the MF sloping channel as well as MF pivot 0.7001.
