- AUD/USD pays a little heed to China’s Caixin Services PMI.
- 61.8% Fibonacci retracement restricts immediate downside.
- Weekly horizontal resistance adds to the upside barrier.
Although China’s Caixin Services PMI becomes another activity data to flash positive figures for the dragon nation, AUD/USD remains modestly in loss to 0.6060 amid the early Friday.
China’s March month Caixin Services PMI rose to 43.00 from 26.5 prior. On Thursday, the Caixin Manufacturing PMI also flashed upbeat data.
That said, trades may again target 50% Fibonacci retracement of March 26-31 upside, at 0.6000, while further downside may take rest around 0.5980.
Alternatively, a sustained break beyond a 200-hour EMA level of 0.6070 needs validation from the weekly horizontal area close to 0.6110/20.
Should AUD/USD prices remain strong beyond 0.6120, March 31 high near 0.6215 will be on the bulls’ radars.
AUD/USD hourly chart
Additional important levels
|Today last price||0.6056|
|Today Daily Change||-4 pips|
|Today Daily Change %||-0.07%|
|Today daily open||0.606|
|Previous Daily High||0.6119|
|Previous Daily Low||0.6007|
|Previous Weekly High||0.62|
|Previous Weekly Low||0.57|
|Previous Monthly High||0.6686|
|Previous Monthly Low||0.5509|
|Daily Fibonacci 38.2%||0.605|
|Daily Fibonacci 61.8%||0.6076|
|Daily Pivot Point S1||0.6005|
|Daily Pivot Point S2||0.595|
|Daily Pivot Point S3||0.5893|
|Daily Pivot Point R1||0.6117|
|Daily Pivot Point R2||0.6174|
|Daily Pivot Point R3||0.623|
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