- A soft reading in Chinese inflation numbers on Wednesday added to concerns about deflationary pressures, kept the Aussies subdued
- The Asian indices also took another hit after the softer Chinese inflation print triggered a renewed wave of risk-aversion
- Australian benchmark, the S&P/ASX trades marginally lower by -0.23% at 5,191, with banks and oil stocks are among the leading decliners
- AUD/NZD was sold to fresh 4-mth low 1.0817, with 200 DMA at 1.0756 the next bear target
- Downward biased daily RSI suggests the slide from September's high is likely to run further, but caution advised as price is at oversold
R1: 1.0931 (10-Day MA)
R2: 1.0983 (Session high Oct 13)
R3: 1.0986 (Session high Oct 6)
Support Levels:
S1: 1.0790 (Session low June 11)
S2: 1.0756 (200 DMA)
S3: 1.0733 (Weekly Kijun)
