A weaker-than-expected China services PMI has not had any impact on the AUD (a proxy for China). AUD/USD could find bids if the oversold Chinese Yuan shows signs of life. The AUD/USD is in stasis above 0.74, witnessing little action post an early release of the Chinese PMI numbers. The non-manufacturing PMI came in at 54.00, a touch softer than June’s print of 55.00, indicating the pace of expansion in the service sector activity slowed in July. The composite number also dropped to 53.6 in July from the previous month’s print of 54.4. However, the Aussie dollar is not showing any signs of stress and could post gains if the oversold Chinese Yuan picks up a bid. Further, the Australian currency may find takers if the building permits (June) figure, scheduled for release at 01:30 GMT, beats estimates by a big margin. AUD/USD Technical Levels Resistance: 0.7460 (50-day moving average), 0.7494 (50% Fib R of June 6 high – July 2 low), 0.7549 (100-day moving average). Support: 0.7370 (July 27 low), 0.7318 (July 20 low), 0.7310 (July 2 low). FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next When is the BoJ press conference, and how could it affect the USD/JPY? FX Street 5 years A weaker-than-expected China services PMI has not had any impact on the AUD (a proxy for China). AUD/USD could find bids if the oversold Chinese Yuan shows signs of life. The AUD/USD is in stasis above 0.74, witnessing little action post an early release of the Chinese PMI numbers. The non-manufacturing PMI came in at 54.00, a touch softer than June's print of 55.00, indicating the pace of expansion in the service sector activity slowed in July. The composite number also dropped to 53.6 in July from the previous month's print of 54.4. However, the Aussie dollar is not showing… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
