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Short

Aussie recovers on positive China PMI,good to sell on rallies

FX:AUDUSD   Australian Dollar/U.S. Dollar
271 3 5
AUD/USD             has recovered form the low of 0.7690 in Asian session till 0.77375 after release of better than expected manufacturing data from China.

The Markit China PMI came at above expectations at 49.9 compared to the flash of 49.6.

Technically Aussie is facing strong resistance around 0.7760 and any intra day bullishness can be seen only above that level.Break above will target 0.7800/0.7820 in short term.

On the downside 0.7680 is acting as strong support and any break below will drag the pair further down till 0.7630/0.7590.

It is good to sell on rallies around 0.7725 with SL around 0.7770 for the TP of 0.7680/0.7630

Rennie
a year ago
sorry for little scribbles, but do you think this Pink line from 01 is having an impact on the bull run?
snapshot
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Rennie Rennie
a year ago
snapshot
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TahirAli Rennie
a year ago
Good point.I noticed that too that its keep bouncing back from the bottom.
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