FxWirePro: AUD/USD edges higher ahead of RBA decision, tough resistance at the 0.72 handle

AUD/USD edges higher after failing to break 0.7100 on the day, currently trading at 0.7140

• Better than expected Chinese Manufacturing data and impressive Australian building permits lift AUD
• Long term momentum is bearish, pair likely to find tough resistance on the 0.72 handle
• RBA rate decision due at 0430 GMT, likely to  stay on hold, statement expected to be largely unchanged

Resistance Levels:

R1: 0.7177 (Session High Aug 31)
R2: 0.7206 (Daily High Aug 28)
R3: 0.7221 (10-Day MA)

Support levels:

S1: 0.7082 (Session low August 31)
S2: 0.7070 (Daily Low Aug 26)
S3: 0.7044 (Daily Low Aug 24)