The Aussie was the most negatively impacted currency by the weaker than expected release of Dec Chinese NBS Manufacturing PMI, as the Australian economy depends mainly on exporting the raw materials especially to China and this dovish figure is keeping the door opened for further stimulating measurements to be taken by RBA which is keeping the interest rate unchanged at 2% since last May. 5.
After having a higher low at 0.7095, AUDUSD could extend its rebound to 0.7325, before retreating again to have its daily Stochastic Oscillator (5, 3, 3) which is sensitive to the volatility in the neutral area coming down from the overbought area above 80. AUDUSD daily Stochastic Oscillator (5, 3, 3) main line is referring now to 43.553 and its signal line is reading 64.783.
The rebound of AUDUSD from 0.7095 is still keeping its daily Parabolic SAR (step 0.02, maximum 0.2) below the trading rate for the ninth consecutive day referring today to 0.7178.
Important levels: MA50 @ 0.7197, MA100 @ 0.7171 and MA200 @ 0.7408
S&R:
S1: 0.7095
S2: 0.7014
S3: 0.6933
R1: 0.7325
R2: 0.7383
R3: 0.7494
