FXStreet (Guatemala) – AUD/USD is currently trading at 0.6996 with a high of 0.7093 and a low of 0.6994.
AUD/USD’s downside has been extended since yesterday’s Asian session and supply that came in after the Chinese data release that surprised to the downside with the 0.7080 support being left behind as bears targeted 0.7020 support.
This area took some time to give with a minor recovery until 0.7065 where supply came in and took out the 0.70 handle to aforementioned lows. Commodities have remained weak and broad strength in the greenback continues to weigh on the major. The Caixin manufacturing PMI was the lowest since March 2009 and was predicted at 47.5 vs previous shocker of 47.3 but came out at an abysmal 47.0.
AUD/USD levels
We head towards the 0.6905 recent lows that has been exposed and then 0.6774 the 2004 low longer term. 0.7032 is first target ahead of the 200 SMA on the upside on the hourly chart at 0.7135 ahead of the 0.7200.
(Market News Provided by FXstreet)