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Risk sentiment took a further hit during this morning’s Asian trading session as China’s purchasing managers’ index declined to 52.1 (v 53.2 exp) during June, significantly lower than the previous reading of 53.9. The release showed China’s manufacturing growth slowed for a second consecutive month and will no doubt compound

The pre-planned short positions from key resistance range levels have been implemented with attainment of minimal anticipated target. OsMA trend indicator, having marked fall in activity of both parties within the frames of descending trading channel case, still favors preference of planning sales, however, with a certain degree of risk

The pre-planned short positions from key resistance range levels have been implemented with attainment of minimal anticipated target. OsMA trend indicator, having marked fall in activity of both parties within the frames of descending trading channel case, still favors preference of planning sales, however, with a certain degree of risk

The pre-planned short positions from key resistance range levels have been implemented with attainment of minimal anticipated target. OsMA trend indicator, having marked fall in activity of both parties within the frames of descending trading channel case, still favors preference of planning sales, however, with a certain degree of risk

The pre-planned short positions from key resistance range levels have been implemented with attainment of minimal anticipated target. OsMA trend indicator, having marked fall in activity of both parties within the frames of descending trading channel case, still favors preference of planning sales, however, with a certain degree of risk

Intraday bias in AUD/USD remains on the downside for the moment. Current development suggests that three wave consolidation from 0.8066 has completed at 0.8858 already, just ahead of 61.8% retracement of 0.9380 to 0.8066. Further decline should now be seen to retest 0.8066/8079 support zone first. On the upside, above

Intraday bias in AUD/USD remains on the downside for the moment. Current development suggests that three wave consolidation from 0.8066 has completed at 0.8858 already, just ahead of 61.8% retracement of 0.9380 to 0.8066. Further decline should now be seen to retest 0.8066/8079 support zone first. On the upside, above

Risk aversion remains the main driving force in the markets following late decline in US stocks overnight. Data from China were disappointing and provided no support to risk sentiments. China manufacturing PMI dropped more than expected to 52.1 in June, adding to sign that China’s fast growing economy is cooling.

Risk aversion remains the main driving force in the markets following late decline in US stocks overnight. Data from China were disappointing and provided no support to risk sentiments. China manufacturing PMI dropped more than expected to 52.1 in June, adding to sign that China’s fast growing economy is cooling.

The market showed very limited interest in Australia’s May commodity prices which came in at 43.0%; slightly lower than the revised prior showing of 43.6%. After falling against all of the major currencies after a bad building approvals number, it seems that the AUD/USD pair may have found some short-term resistance at the .8374 level, which is the 23.6% fibo line on the move down from the high on June 30th to today’s low. If it holds, the downside target is .8315, but a close above this level may be a bullish signal for the pair in which case we may be looking at .8411 ( 38.2% retracement) as the topside target.