AUD/USD traders taking seriously the disappointing export numbers to Australia from China
The trade data released by China over the weekend indicated a fairly substantial slowdown in Chinese exports to Australia and other Pacific Rim countries – putting a bit of doubt back into the theory of burgeoning global growth.
AUD/USD traders are also tracking developments in Washington, DC, which have been disappointing for global risk bulls this weekend. US politicians making the rounds on the Sunday morning talk shows painted a disappointing picture of the discussions that took place this weekend while still expressing hope about getting something done before the October 17th debt-ceiling deadline.
Technical outlook for AUD/USD
The AUD/USD faces resistance at the horizontal line of 0.9446 and then again at Friday’s close at 0.9463. First support comes in at today’s low of 0.9428 and if it fails the next possible support is 0.9416.
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