- Antopodeans dented, trade cautious amid a drop in Chinese investment growth.
- AUD/USD is trading largely muted on the day, at 0.7192 at the time of writing.
- Data released earlier today showed China's fixed-asset investment growth slowed to a record low of 5.3 percent in the first eight months of the year, missing the estimate of 5.5 percent.
- A record low Chinese investment growth overshadowed upbeat China’s retail sales and industrial production data.
- Attention now turns towards the US retail sales, industrial production and prelim UoM consumer sentiment data for fresh dollar trades, which will impact the major.
- Techincal studies show minor upside in the pair. Major trend remains bearish.
- Immediate resistance is seen at 21-EMA at 0.7223. Break above could see test of 55-EMA at 0.7315.
Support levels - 0.7156 (5-DMA), 0.71, 0.7085 (Sept 11 low)
Resistance levels - 0.7223 (21-EMA), 0.73, 0.7315 (55-EMA)
FxWirePro Currency Strength Index: FxWirePro's Hourly AUD Spot Index was at 128.87 (Bullish), while Hourly USD Spot Index was at -93.8753 (Bearish) at 0400 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
