AUD/USD awaits Chinese data for next impetus

By FXStreet FXStreet (Guatemala) – AUD/USD has made a very minor recovery vs the downside that its has faced this week from 0.7280, falling below the 200 SMA at 0.7138 today on the hourly sticks and reaching the aforementioned lows on a risk-off environment yet again while investors seek safer havens among the uncertainty around Global growth.

AUD/USD awaits chinese data

Today holds some data from China in the form of the key Caxin manufacturing PMI flash reading for September that is expected at 47.5 vs prior 47.3 and an increasing rate of contraction in the sector. We will also here from Fed’s Lockhart again this week for a second time at 22.30GMT, so unless there is any variation from what he has already been saying, essentially suggesting that there is no harm in evaluation more before a hike, it is unlikely to have much impact while Japan remain off-line as well until tomorrow.

AUD/USD levels

The key downside level is 0.7050 at this juncture and may fuel bears to retarget the 0.6905 recent low and then 0.6774 the 2004 low longer term. The 200 SMA on the upside on the hourly chart at 0.7138 ahead of the 0.7200 come as …read more

Source:: FX Street