AUD/USD awaits impetus from China

FXStreet (Guatemala) - AUD/USD has been a slow grind to the downside since the pair rose from 0.9010 to 0.9044 in London. The aussie dipped below the 0.90 handle early Sydney, shedding quarter of a cent.

AUD/USD slipped post the FOMC minutes and a bullish statement coming from Fed’s Bullard. While nothing was said that markets were not expecting, given Yellens recent testimony, there was however a more hawkish tone around the US economy. The calendar for Australia is light and markets will be focusing on the forthcoming Chinese HSBC/Markit flash manufacturing PMI for February. The consensus is for the number to be unchanged at 49.5, and another low print may affect AUD and add further pressures to AUD/USD. Then, from the US the calendar is crowded again. Jan CPI, Jobless claims, Feb payrolls survey and the Feb Philly Fed index are all potential market movers.

AUD/USD Levels

The 20 DMA is 0.8885, the 50 DMA is 0.8901 and the 200 DMA is 0.9214. RSI (14) reads 30.14. Supports are ascending from 0.8920, 0.8949, 0.8966 and 0.8985. Spot is 0.9001. Resistances are 0.9048, 0.9087, 0.9125 and 0.9169.