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China stocks rout adds to the concerns of China's economic slowdown fuelling risk-off sentiment across the board.
- AUD/USD accelerated downside in the Asian session to hit fresh weekly lows by 0.7312
- The pair has recovered some of the losses and is currently trading at 0.7330, with day's range 0.7312-45
- Price action is hovering just above the cloud, Tenkan and Kijun are bearishly aligned and Stochs are on the verge of a bearish crossover
- Immediate resistance is located at 0.7349 (4h Tenkan-sen) and supports on the downside are seen at 0.7314 (4h cloud top)
- Markets focus on key US macro data releases - CPI and FOMC minutes due later today for further USD moves.
