A slew of mixed Chinese economic data sent the AUD/USD lower from almost two-week peaks, with the bulls struggling hard to retain the bids over the last hours.
AUD/USD holds above daily pivot
Currently, the AUD/USD pair trades +0.07% higher at 0.7672, bouncing-off session lows struck at 0.7662. The Aussie continues to oscillate back and forth in a tight range, with the upside capped just below 0.7700 levels, while the downside remains cushioned at daily pivot.
Markets continue to digest mixed China data amid steady growth seen in the Chinese economy, thus, allowing a minor-consolidation phase in the AUD/USD pair
Next big event for the Aussie is the employment data due Thursday, while markets now await the US housing sector data due later in the NA session today.
AUD/USD Levels to watch
The pair finds the immediate resistance at 0.7693 (Oct 4 high) above which gains could be extended to the next hurdle located 0.7707 (daily R3) and 0.7750 (psychological levels). On the flip side, the immediate support located at 0.7637 (5-DMA). Selling pressure is likely to intensify below the last, dragging the Aussie to 0.7576 (100-DMA) and below that at 0.7511 (200-DMA).
- R3 0.7765
- R2 0.7728
- R1 0.7697
- PP 0.7661
- S1 0.7630
- S2 0.7593
- S3 0.7562
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