AUD/USD chart - Trading View
AUD/USD has reversed early losses and edged higher from session lows at 0.7346 to hit fresh multi-month highs at 0.7381.
Upbeat Chinese PMIs which show a surprise expansion in the manufacturing sector reinforce speculation about a faster-than-expected economic recovery.
Data released earlier today showed China's NBS Manufacturing PMI came in at 51 in August, well above expectations for 48.7.
Further, the Non-Manufacturing PMI rose to 55.2 in August from July's 54.2 and bettered estimates for 52.1.
The Aussie dollar is drawing bids following the release of China's PMI data, bullish momentum set to continue.
Technical studies are strongly bullish. Price action is consolidating break above 200W MA. Scope for test of 78.6% Fib at 0.7573.
Sino-Australian tensions could act as a drag. Immediate support lies at 5-DMA at 0.7282. Failure to hold above 200W MA negates upside bias.


FxWirePro: USD/CAD slips after Fed holds rates steady
FxWirePro:EUR/NZD gains some upside momentum but still bearish
Major FX Action Bias & US Market Sentiment: NZD/USD (Extremely Bullish) & AUD/USD (Bullish) Watchlist
JPY Action Bias: EURJPY and CADJPY Emerge as Extremely Bullish Pairs to Watch
FxWirePro: USD/ CNY hits one-month low,scope for futher downside
FxWirePro: AUD/USD falls after softer-than-expected Australian Q2 CPI
FxWirePro: GBP/NZD maintains bersish bias with focus on 2.2900 level
FxWirePro : GBP/NZD strongly bearish despite upside attempts
FxWirePro: GBP/USD edges lower ahead of Fed policy verdict
FxWirePro: GBP/AUD gains above 1.9200 level , upside pressure builds
NZDJPY Bullish Rebound: Buy Dips as EMAs Align for 97 Target
Major Forex Pairs Action Bias: GBPUSD and AUDUSD Turn Extremely Bearish
FxWirePro- Major Pair levels and bias summary
NZD/JPY Flatlines Near 94.60: Will Key Support Reignite the Uptrend?
FxWirePro: USD/ZAR firms ahead of Fed interest rate decision
FxWirePro: NZD/USD firms as Kiwi gains on strong ANZ business outlook data 



