Aussie slammed after the weak China HSBC flash PMI reading. Aussie-dollar opened at $0.9000, and briefly traded below that to $0.8992 before rumored demand from $0.8985/80 carried it back to $0.9013 high. Aussie-dollar plummeted through $0.9000 again immediately after the HSBC release, clearing out those rumored offers as risk positions were abruptly cut. The pair sliced through the $0.8966 Feb 14 low and went through further demand at $0.8950 before coming to a rest at $0.8937 in the Asian afternoon. The pair has since been held up by talk of demand from exporters off the low but recoveries have been shallow so far. Aussie-dollar was last at $0.8944, with the55-day moving average seen coming in below at $0.8918, with strong bids then noted further down from $0.8910. Up top, the $0.9085 Jan monthly high remains key resistance this week with a close above this level needed to kick start bullish momentum and see the focus shift to layers of resistance in the $0.9147-0.9248 region, just beyond the 100-day moving average at $0.9131
