FxWirePro: AUD/USD dips below 0.6600 level,scope for further downside

•  AUD/USD slipped lower on Tuesday after data showed Australia’s business activity growth slowed in September.

•Australia’s business activity slowed in September, weighed by weaker orders and export pressure, a survey showed.

• A private survey on Tuesday showed Australia’s business activity slowed in September due to weaker orders and export pressure.

• The S&P Global Flash Composite PMI slipped to 52.1 in September from 55.5 in August, but remained above 50, signaling growth for the 12th month in a row.

• The services index eased to 52.0 from 55.8, while the manufacturing PMI fell to 51.6 from 53.0 as output growth weakened.

•  Immediate resistance is located at 0.6659(Sep 18th high), any close above will push the pair towards 0.6697(Lower BB)

•  Support is seen at 0.6586(SMA 20) and break below could take the pair towards 0.6552(38.2%fib).

 Recommendation: Good to sell   around 0.6600 with stop loss of 0.6700 and target price of 0.6520