Asia-Pacific traders are likely to see a risk-averse open in today’s session after the sentiment-linked Australian Dollar fell versus the US Dollar. China’s Caixin purchasing managers’ index is set to cross the wires today for the services sector, with analysts expecting a print of 51.7 for December. That would be down slightly from 52.1 in November. The Caixin manufacturing PMI released earlier this week rose to 50.9 from 49.9 for December. A better-than-expected print may revive some Aussie Dollar strength. AUD/USD trimmed gains overnight and went into the red, with the falling 50-day Simple Moving Average (SMA) pressuring prices. The 26-day Exponential Moving Average (EMA) may provide support along with the 38.2% Fibonacci retracement. However, the MACD oscillator appears to be shifting into a bearish stance, with the MACD on track to cross below its signal and center lines. A break lower may see a move down near the psychologically imposing 0.7100 level.

expectation today: neutral