FxWirePro: AUD/USD muted post mixed China data dump, scope for upside on break above 1H 200 SMA
AUD/USD chart on Trading View used for analysis AUD/USD is trading largely muted as we head into the EU session. The major was largely unfazed by a mixed China data dump. China’s October retail sales y/y printed at 8.6% …
AUD/USD is trading largely muted as we head into the EU session.
The major was largely unfazed by a mixed China data dump.
China’s October retail sales y/y printed at 8.6% vs 9.1% expected and 9.2% last. Industrial output y/y stood at 5.9%, slightly above the 5.7% expected and 5.8% last.
Meanwhile, urban investment y/y increased to 5.7% vs 5.5% expected and 5.4% last. October property investment y/y stood at 9.7% vs. 9.9% last and jobless rate arrived at 4.9% vs. 4.9% previous.
AUD/USD is trading with a slightly bullish tone on the intraday charts, we see scope for upside on breakout at 1H 200 SMA.
Immediate resistance lies at 20W SMA at 0.7248 ahead of 23.6% Fib at 0.7584.
1H 55 EMA is immediate support at 0.7214, break below to see weakness till 21-EMA at 0.7178.
Focus on US CPI data due later today along with Australia jobs data for direction.
