AUD/USD Technical Analysis: 0.7179 is the level to beat for the AUD bulls, focus on China data

AUD/USD created a classic "long-tailed" doji candle yesterday, signaling strong dip demand at the 100-day moving average (MA) line.
That said, traders usually wait for a strong follow through, preferably a break above the high of the long-tailed doji.
So, a move above 0.7179 (yesterday's high) may invite stronger buying pressure, leading to a move higher toward 0.7295 (Jan. 31 high).
A convincing break above 0.7179 could happen later today if China's industrial production, retail sales, and Q1 GDP better estimate.
In particular, a stronger than expected rebound in industrial production would add credence to upbeat PMI numbers released earlier this month and strengthen the narrative that the industrial cycle is on the verge of recovery.
The AUD may revisit the previous day's low of 0.7139 if the China macro data disappoint expectations. That said, only a close below that level would confirm a bearish doji reversal.
As of writing, the AUD/USD pair is trading at 0.7167, having hit a low of 0.7153.

Omkar Godbole FXStreet Contributor

Daily chart

Trend: Bullish above 0.7179

AUD/USD

Overview
Today last price	0.7167
Today Daily Change	-0.0008
Today Daily Change %	-0.11
Today daily open	0.7175

Trends
Daily SMA20	0.7119
Daily SMA50	0.7108
Daily SMA100	0.7138
Daily SMA200	0.7192

Levels
Previous Daily High	0.718
Previous Daily Low	0.7139
Previous Weekly High	0.7193
Previous Weekly Low	0.7087
Previous Monthly High	0.7168
Previous Monthly Low	0.7002
Daily Fibonacci 38.2%	0.7164
Daily Fibonacci 61.8%	0.7155
Daily Pivot Point S1	0.7149
Daily Pivot Point S2	0.7124
Daily Pivot Point S3	0.7108
Daily Pivot Point R1	0.719
Daily Pivot Point R2	0.7206
Daily Pivot Point R3	0.7231

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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