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AUD/USD awaits Chinese key data

FXStreet (Guatemala) - AUD/USD is trading at 0.8740, down -0.06% on the day, having posted a daily high at 0.8751 and low at 0.8739.

The AUD/USD remains at a slow pace and if anything comes with a slightly bearish bias, post domicile-manufacturing disappointments and is pressing down below the midpoint of the 0.87 handle. While otherwise, actual indicators are suggesting the pair may be developing a base. Valeria Bednarik, chief analyst at FXStreet noted that the 4 hours chart shows price struggling with a bearish 20 SMA at current levels and momentum turning south below 100, with the daily high of 0.8766 as immediate resistance to overcome to see the pair extending its recovery, at least intraday. We will be seeing Australian retail sales also, Consensus is 0.4% m/m as a further improvement on July.

AUD/USD action today depends on China

Despite the Chinese holiday, we will get the official manufacturing PMI for Sep. Consensus is for little change, at 51.0, easing further from what was a misleading YTD high of 51.7 in July as noted by analysts at Westpac Banking Corporation ABN.

AUD/USD levels

Support levels: 0.8710 0.8680 0.8635

Resistance levels: 0.8765 0.8800 0.8840

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