AUD dumps 50 pips towards 0.8907 next support

FXStreet (Guatemala) - AUD/USD had already been feeling the pinch from developments in the US session and on going uncertainty over China but the pair has dropped to a low of 0.8916 so far on the spike with Australia’s private capex shocking release at -5.2%.

Australia’s private capex report will be of considerable interest to the RBA and this shocker of a release has taken the markets attention. Meanwhile, Karen Jones, chief analyst at Commerzbank noted that there is minor support 0.8945/18, but said to consider that support at 0.8825 (December low) guarding key support at 0.8683/0.8660 (the 2011-2014 channel base, the 38.2% retracement of the move from 2001 to 2011 and the recent low).

AUD/USD Levels

The 20 DMA is 0.8945, the 50 DMA is 0.8906 and the 200 DMA is 0.9194. RSI (14) reads 36.58. Next supports are ascending from 0.8873, 0.8896, and 0.8907. Spot is 0.8917 while resistances are 0.9050, 0.9087, 0.9169 and 0.9204.