FxWirePro: AUD/USD trades rangebound, Aussie unimpressed by upbeat China NBS Manufacturing PMI

AUD/USD chart - Trading View 

AUD/USD was trading rangebound on the day at 0.7115 at around 04:45 GMT, with session high at 0.7149 and low at 0.7109.

The pair consolidates previous session's gains and bias remains bullish as long as price holds above 5-DMA.

China’s official manufacturing Purchasing Manager’s Index (PMI) accelerated to 51.5 in September from August’s 51.0 while beating the consensus forecast of 51.2.

On the other hand, China’s Caixin Manufacturing PMI eases to 53.0 in September from 53.1 booked in August and missing expectations at 53.1.

Data Watch for the day: U.S. ADP Employment change, Q2 GDP, Pending Home Sales (Aug), Chicago PMI.

AUD/USD pauses the recovery rally at 55-EMA resistance, break above cloud will buoy bulls in the pair. 

Series of resistance seen till 0.72. Break above will see next major resistance at 200W MA at 0.7244.

On the flipside, 5-DMA is immediate support at 0.7076. Break below will see test of 110-EMA at 0.7012.