AUD/USD down -0.64% on WTI crash

Currently, AUD/USD is trading at 0.7451, down -0.69% on the day, having posted a daily high at 0.7518 and low at 0.7451.

WTI jittery around the $49 handle in oil major sell-off

Global stocks are firm on the session so far while WTI is taking the show, with a huge drop post-OPEC news. The commodity FX pairs such as AUD, NZD and NOK are among the notable underperformers still. AUD/USD is now below the 200 ema on the 1-hour sticks at 0.7454, supported here for the time being. However, the next major catalyst will not come in Asia and markets will be focused back on the US calendar instead with GDP,  PCE and durable goods as the standout data. 

AUD, JPY, NZD vulnerable to Chinese wobbles - Rabobank

Key Quotes:

Karen Jones, Head of FICC Technical Analysis at Commerzbank, warns of this level in the Aussie Dollar as she argued that it only remains positive while above 0.7454.

AUD/USD upside bias above 0.7454 – Commerzbank

In respect to the bullish channel that the pair fell out of recently, Nenad Kerkez at Admiral Markets explained here, AUD/USD Respecting The Channel, that AUD/USD is moving alongside upper EQ channel making zig zag bullish pattern. "This bullish pattern is characterised by a slow grind towards D H3/H4 channel top and we might expect a possible continuation if the price doesn’t make a 4h close below D L5/ W L3 0.7430. The POC zone is 0.7455-65 (ATR low, EQ channel bottom, D L4, EMA89). In the case that price goes below POC (without closing below 0.7430) a bullish spike into the channel itself will also be a bullish sign."