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AUD/USD slips under Wednesday's lows as we...>

AUSSIE
AUSSIE: AUD/USD slips under Wednesday's lows as we type and last trades at
$0.6390, 10 pips worse off. The move has occurred in tandem with downticks in
U.S. equity index futures. AiG PSI printed at 27.1 vs. the previous reading of
38.7 and the focus turns to local trade balance and foreign reserves, due later
today. China's trade balance & Caixin Services/Composite PMIs will also be
watched today.
- Bears look for a fall below the $0.6480-73 area, which hosts the 20-EMA,
50-EMA & May 4 low. This would bring the key Apr 21 low of $0.6254 trough into
play. Topside focus is on Apr 30 high of $0.6570, a key near-term resistance.
- Looking further ahead, the RBA releases its latest SoMP on Friday.

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