AUD/USD technical analysis: Under pressure below 0.6758/60 after China’s industrial profits

AUD/USD stays under near-term key resistance-confluence after China data.
China’s Industrial profits slumped on YoY, unchanged on MoM basis.

Anil Panchal FXStreet

Although no major reaction to China’s August month Industrial Profits could be witnessed, AUD/USD remains under short-term key resistance confluence while taking rounds to 0.6750 during early Friday.

China’s Industrial Profits declines -2.0% on a yearly basis versus +2.6% prior whereas MoM reading reprints -1.7% mark.

With this, the Aussie pair stays under 0.6858/60 resistance-confluence including 50-hour exponential moving average (EMA) and last-week’s low.

As a result, chances of its further declines to 0.6700 round-figure and then to the monthly bottom close to 0.6690 seem brighter.

Meanwhile, pair’s run-up beyond 0.6760 could please buyers with 0.6780 before confronting 200-hour EMA level close to 0.6790.

AUD/USD hourly chart

Trend: bearish

additional important levels

Overview
Today last price	0.6751
Today Daily Change	4 pips
Today Daily Change %	0.06%
Today daily open	0.6747

Trends
Daily SMA20	0.6809
Daily SMA50	0.6817
Daily SMA100	0.6885
Daily SMA200	0.6996

Levels
Previous Daily High	0.6781
Previous Daily Low	0.6745
Previous Weekly High	0.6885
Previous Weekly Low	0.6759
Previous Monthly High	0.6869
Previous Monthly Low	0.6676
Daily Fibonacci 38.2%	0.6759
Daily Fibonacci 61.8%	0.6767
Daily Pivot Point S1	0.6734
Daily Pivot Point S2	0.6721
Daily Pivot Point S3	0.6698
Daily Pivot Point R1	0.6771
Daily Pivot Point R2	0.6794
Daily Pivot Point R3	0.6807

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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