AUD/USD Price Analysis: Remains below 200-hour EMA despite upbeat China data


  • 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.

Read: China Caixin/IHS Markit March Services PMI at 43.0 vs 26.5 in February

Earlier during the day, Aussie Retail Sales flashed upbeat figures, +0.5% versus 0.4% forecast, but failed to impress the buyers.

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

Trend: Bearish

Additional important levels

Overview
Today last price 0.6056
Today Daily Change -4 pips
Today Daily Change % -0.07%
Today daily open 0.606
 
Trends
Daily SMA20 0.6125
Daily SMA50 0.6454
Daily SMA100 0.6663
Daily SMA200 0.6753
 
Levels
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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