Aussie started the new week at $0.8950 and followed up with a slow climb to $0.8982 high in the early hours of the session today. But aussie-dollar turned back after Asian markets got underway and regional accounts, began selling the aussie from around $0.8980 amid a lack of strong follow-through. The release of HSBC China Dec Services PMI helped push aussie-dollar’s move lower after it came in below expectations, and the pair then went further down toward $0.8960. It continued heading south from then asstock market indices in the region, including the Shanghai Composite Index, failed to recover, leading to further moves out of risk positions by the early afternoon. Aussie-dollar was last at $0.8950, just off the earlier $0.8943 low, which also matches the 21-day moving average, with next support then seen coming in at last Friday’s $0.8885 low.
