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AUD/USD chart - Trading View
AUD/USD was trading 0.21% lower on the day at 0.7321 at around 03:45 GMT.
Dismal Australia trade numbers and weak China Caixin Services PMI weigh on the pair.
Data released earlier today showed China Caixin/Markit services Purchasing Managers' Index (PMI) slipped to 54.0 from July's 54.1, down for the second month.
Also, Australia’s Trade Balance slipped below 5400M initial forecast to 4607M in July and compared to 8202M prior.
Details suggest that the Imports rose past-1.0% to 7.0% while Exports slumped to -4.0% from +3.0% prior.
On the other side, increasing odds of further stimulus to support recovery and hopes of the coronavirus (COVID-19) vaccine keep risk-on mood, cushioning downside.
Major trend is bullish, pullbacks likely to be shallow. Dip till 21-EMA support at 0.7239 likely. Breach at 21-EMA support could see further downside.
