FxWirePro- Currency Strength Index (4- Hour chart)- Currency pairs to watch (EURUSD and AUDUSD) for the day)
FxWirePro: AUD/USD comatose below 0.65 handle, October’s RBA monetary policy decision awaited
Chart - Courtesy Trading View
AUD/USD was trading unchanged at 0.6496 at around 06:15 GMT.
The pair has failed to extend break above 5-DMA, outlook remains bearish.
Investors await the announcement of October’s monetary policy decision by the Reserve Bank of Australia (RBA).
Data released earlier today showed China Caxin Manufacturing PMI printed at 48.1, lower than the expectations and the prior release of 49.5.
A weaker-than-projected Caixin Manufacturing PMI data carries a significant impact on Australian exports. However, downbeat data has failed to have any major impact.
Focus on the core Personal Consumption Expenditure (PCE) price index data, which is seen higher at 4.7%, 10 bps above the prior release.
Also, awaited is the US Michigan Consumer Sentiment Index (CSI) data which is expected to remain steady at 59.5.
Technical indicators are biased lower. Major trend is strongly bearish. Recovery attempts lack traction. Break below 5-DMA will see further downside.