AUD/USD: a mixed bag of tricks - FXStreet

Valeria Bednarik, chief analyst at FXStreet explained that the Australian dollar eased against its American rival, undermined by falling oil prices, and mixed Chinese data.

Key Quotes:

"The Chinese Caixin Services PMI for July came in at 51.7, down from a 11-month high of 52.7 in June, although the Composite figure rose from 50.3 to 51.9 the fastest rate of growth since September 2014."

"The AUD/USD pair fell down to 0.7568, spending most of the day consolidating below the 0.7600 level, with the downward risk still seem moderate. In the 1 hour chart, the price is developing below a bearish 20 SMA, while the technical indicators hold below their mid-lines, with no certain directional strength."