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AUD/USD supported on China again

FXStreet (Barcelona) - AUD/USD is trading at 0.8759, down -0.22% on the day, having posted a daily high at 0.8783 and low at 0.8751.

AUD/USD has found some bids on the back of a positive result again coming in from China and this time in the form of HSBC Manufacturing PMI that read 50.4 vs 50.2 expected and 50.2 previous. The pair has been in a strongly bearish channel on the five minute chart and this number is defying the bears and taken out the descending channel resistance at 0.8775. However, for the upside to continue, we need a convincing close on the hourly chart above 0.8780 at least.

AUD/USD noteworthy levels

With spot trading at 0.8759, we can see next resistance ahead at 0.8763 (Hourly 200 SMA), 0.8779 (Hourly 20 EMA), 0.8780 (Daily Open), 0.8780 (Hourly 100 SMA) and 0.8780 (Daily Classic PP). Support below can be found at 0.8752 (Weekly Classic PP), 0.8751 (Daily Low), 0.8746 (Yesterday's Low), 0.8744 (Weekly Low) and 0.8744 (Daily Classic S1).

China HSBC Manufacturing PMI registered at 50.4 above expectations (50.3) in October

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