AUD/USD has settled at the 20 sma on the hourly chart at 0.7160 post the Capex sell-off and the yuan fixing. The PBoC fixed the yuan at 6.5318 and injected a huge 340b yuan in reverse repos vs yesterday's mid point fix of 6.5302. The Capex data was mixed, with a better headline, but poor background details in the outlook for future investment in 2016/17, albeit conducted during the height of 2016's turmoil, so far. We now look ahead to European and US markets opening and subsequent data events that could influence the price one way or the other. Today was a bad day in the US data in Homes sales and Markit services PMI's both missing expectations and priors. Today, in the US, we see Jan durable goods orders. "This is expected to rise by 2.9%m/m after a -5.0% fall in Dec. The median forecast for the ex-transport measure is 0.3%," explained analysts at Westpac. AUD/USD levels The key objective for the bears is a break of the 0.70 handle. The 200 sma on the hourly is looking robust again, holding the bears off for a third hourly attempt in the previous sessions. On a break back to the upside, the pivot is at 0.7226 guarding recent highs. The 200 dma (0.7270) with daily closes opens-up the December highs of 0.7327, the 30th Dec and 0.7385 on the 3rd Dec. For more information, read our latest forex news.