AUD/USD approaching 0.88 handle

FXstreet.com (Barcelona) - ="">AUD/USD has been a slow grind approaching the 0.88 handle meeting resistance currently in the 0.8790’s.

The pair has been subject to a downside revision of Jan HSBC Markit Manufacturing PMI for China and that had a negative, albeit temporary, impact on >AUD/USD which dropped 0.4% to the low of 0.8711 before drifting back to the upside on the day in Europe and NY. The pair has been subject to a downside revision of Jan HSBC Markit Manufacturing PMI for China and that had a negative, albeit temporary, impact on AUD/USD which dropped 0.4% to the low of 0.8711 before drifting back to the upside on the day in Europe and NY. The calendar is relatively light today for the pair with only Private Sector Credit on the cards and Producer Price Index taking a back seat. It was a day from the US that gave us mixed information from the calendar in their economy. Worse than expected Jobless claims for Jan 24th at 348k against a median forecast of 330k and coupled with a downside miss in GDP with a rise of 3.2%.

AUD/USD Levels

The 20 DMA is 0.8863, the 50 DMA is 0.8952 and the 200 DMA is 0.9302. RSI (14) reads 39.13. Supports are ascending from 0.8623, 0.8633, 0.8660, 0.8706, 0.8728. Spot is 0.8792 while resistances after the figure 0.8800 are 0.8826, 0.8858 and 0.8889.