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USD Trading Outlook (21-02-2014)

The Australian Dollar (AUD): AUD/USD crushed down to a low of 0.8936 after Chinese PMI came out lower than expected at 48.3. Breaking the pivot of 0.8990 but once again held on the support of 0.8920 and pushed back up above 0.90. Another range trade play shown on this pair as we had a mix data of good and bad news through out the past two weeks. However, bear traders started gaining confidence back as pivot been broken twice now and 0.9080-85 resistance been holding well.

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