Aussie started the week with a 20 pip drop but it recovered to be around opening levels as I type. Commodities (particularly metals) are down, Chinese stocks too, but there was some encouraging data (MI Inflation Gauge, Company Operating Profits, Private Sector Credit) from Australia overnight.
0.7125 - 0.7150 support zone, that includes Previous Week Low, 50 DMA and broken Weekly Trendline (drawn off of September 2014, May 2015 and October 2015 highs), is crucial. 0.7200 - 0.7225, which hosts 100 DMA, is the immediate resistance.
0.7125 - 0.7150 support zone, that includes Previous Week Low, 50 DMA and broken Weekly Trendline (drawn off of September 2014, May 2015 and October 2015 highs), is crucial. 0.7200 - 0.7225, which hosts 100 DMA, is the immediate resistance.
