Asian markets ended the session mixed on Wednesday as investors try to asses the damage in the economy amid the coronavirus outbreak. The number of deaths in the USA jumped to 1800 a daily record, but in Europe, the number of new confirmed cases death dropped for the fourth consecutive day. In China, the Hubei province reported zero new cases on April 7 and zero on April 6.
Nikkei 225 ended 2.23% higher at 19353 after the Japan Machinery Orders came in at 5% beating the expectations -2.7% in February. The Singapore Straits Times is 1.59% lower at 2530. The Shanghai Composite is 0.19% lower at 2815, while the Hang Seng Index is 1.23% lower at 23959. ASX 200 finished 0.86% lower at 5206.
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AUDUSD Retreat From Six Days High
AUDUSD is 0.59% lower at 0.6132 after S&P credit agency downgraded Australia outlook to negative from stable. Investment Lending for Homes fell from previous 3.6% to -1.9% in February, while the Home Loans came in at -1.7%, the previous reading was at 3.1%.
On the technical side, immediate support for the pair stands at 0.6115 the daily low. Next support will be met at 0.6073 the low from yesterday trading session. A break below might test 0.5991 the low from April 6.
On the contrary, first resistance for AUDUSD stands at 0.6177 the daily top. The next obstacle will be met at 0.6207 the high from yesterday’s trading session. What can cancel the negative momentum is a move above the 50-day moving average 0.6399.
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