Best Gold Stocks to Buy Now: AABB, GOLD, GDX 
The AUD/USD pair was seen slightly higher on Monday, changing hands above the $0.71 handle and with further upside possible in the coming days.
Data at the weekend showed industrial production in China in August ticked higher from 6.0% to 6.1% on a yearly basis, but missed the forecast of 6.5%. Moreover, retail sales for August in China improved from 10.5% to 10.8% year-on-year.
The Australian dollar was not influenced by these numbers and continued to test the $0.7120 resistance in the European session and currently trading at $0.7125 levels.
Traders are anxiously waiting for Thursday's monetary policy decision, but the Federal Reserve (Fed) is not expected to raise rates, according to the latest data from the Fed funds futures. The action will likely come later in the year, most likely in December.
The technical outlook is bullish, but traders should wait for a small drop to buy the pair at a better price, due to overbought conditions.
On last Thursday, a well performing Australian labour market in August saw 17,400 people added to the workforce, much more than the initially expected 5,000. What's more, the unemployment rate declined to 6.2% from last month's 6.3%, providing some relief for the Aussie.
