AUDUSD Showing sighns of weakness

The AUDUSD tried to rally once again on Tuesday in Asian and early European trading.  But headwinds may have tried out the pairs legs.  Falling commodity prices and indications of a slowing import demand from China could pressure the cross in the near future.  The AUD has had difficulty moving of the descending trend line that has directed the pairs accent since the end of last May.   Trend line support begins at 1.0170 and daily resistance begins at 1.0250.  Data out in Asia Wednesday, CNY NEw Yuan Loans, could impact this pair.  Any 4 hr close below trend line support could lead to a move back towards parity.

Sup     1.0170                1.0140

Res     1.0250

 

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