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FxWirePro: AUD/USD holds well above 0.7000 after upbeat Chinese PMI data, good to buy at dips

  • Aussie has broken minor resistance 0.7065 on upbeat Chinese PMI and it is currently trading at 0.7061.

  • Chinese Manufacturing PMI for Sep came at 49.8 compared to forecast of 49.7.

  • Technically any break above 0.7065 will take the pair to next target 0.7117/0.7150.

  • On the downside minor support is around 0.7000 and break below targets 0.6935.

  • Short term bullish invalidation only below 0.6935.

It is good to buy at dips 0.7045-50 with SL around 0.7000 for the TP of 0.7145

 

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