AUD

FXstreet.com (San Francisco) - The Australian dollar is markedly lower against the greenback at the start of Monday trading, largely on disappointing trade data out of China over the weekend as well as a strong U.S. jobs report on Friday which gave the USD broad strength.

From a technical standpoint, "The 4 hours chart shows price below 20 SMA and RSI heading south below 50 although momentum indicator is flat above 100; the mixed picture favors the downside although selling pressure seems not to be enough yet," comments Valeria Bednarik, Chief Analyst at FXstreet.com. "A stronger downward acceleration is expected once 1.0530 support gives up."

At time of writing, AUD/USD has moved down into the 1.0550 area as trading in Tokyo gets underway, down from 1.0568 late Friday. Farther to the downside, support levels are seen at 1.0530, 1.0490 and 1.0440, with resistance levels noted at 1.0610, 1.0630 and 1.0670, says Ms. Bednarik.