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FxWirePro: AUD/USD holds well above 0.7000 after upbeat Chinese PMI data, good to buy at dips

Aussie has broken minor resistance 0.7065 on upbeat Chinese PMI and it is currently trading at 0.7061. Chinese Manufacturing PMI for Sep came at 49.8 compared to forecast of 49.7. Technically any break above 0.7065 will …

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FxWirePro: AUD/USD holds well above 0.7000 after upbeat Chinese PMI data, good to buy at dips
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  • Aussie has broken minor resistance 0.7065 on upbeat Chinese PMI and it is currently trading at 0.7061.

  • Chinese Manufacturing PMI for Sep came at 49.8 compared to forecast of 49.7.

  • Technically any break above 0.7065 will take the pair to next target 0.7117/0.7150.

  • On the downside minor support is around 0.7000 and break below targets 0.6935.

  • Short term bullish invalidation only below 0.6935.

It is good to buy at dips 0.7045-50 with SL around 0.7000 for the TP of 0.7145

 

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