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Jan 01 - 10:55 PM

AUD/USD - Muted Reaction To Better Caixin Mfg PMI

By John Noonan  —  Jan 01 - 09:00 PM
  • Caixin Dec manufacturing PMI comes in at 50.8 up from 50.7 in Nov (50.4 exp)

  • AUD/USD showing no reaction and is trading unchanged around 0.6815

  • Market also brushed off weaker official PMI released on weekend nL4N3DM19W

  • AUD/USD traded up to 0.6822 earlier when USD/CNH dipped to 7.1109

  • Support is at 10-day MA at 0.6808 and close below could see correction lower

  • More support is at the 21-day MA at 0.6715 and break would end trend higher

  • Resistance is at the triple top formed at 0.6895/0.6700

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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