AUD/USD testing 0.9280 post China's HSBC PMI

FXstreet.com (Barcelona) - AUD/USD continues to trade on a heavy tone following a downbeat revision in China's HSBC PMI final read, which came at 50.2 vs 51.2 expected. The exchange rate traded as low as 0.9280 before bids emerged.

After last week's key technical breakout, in view of Valeria Bednarik, Chief Analyst at FXstreet.com, the AUD/USD presents a bearish tone which support the notion of further weakness, "with a break below 0.9280 signaling further slides for today, and eyeing first 0.9240, where the pair will fill one of the two weekly opening gaps left in the last month" Bednarik says.