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May 31 - 02:55 AM

AUD/USD - Capped By Disappointing China Data, Looks To US Data

By Krishna K  —  May 30 - 11:45 PM
  • AUD/USD unchanged in Asia after trading in a 0.6641-0.66275 range

  • Rally attempts thwarted by weak China data which dampens sentiment

  • China's factory activity unexpectedly dips as property pain persists

  • But AUD dip buyers lurk as higher-for-longer RBA rate expectations support

  • Second recovery from strong support at 0.6580-90 hints of double-bottom

  • Focus shifts to U.S. PCE price index Fri, key for Fed rate expectations

  • Support 0.6610-15, 0.6580-90, resistance 0.6650, 0.6675-80

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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