The AUD/USD pair is looking heavy while heading into China Caixin PMI release, which is expected to show the manufacturing sector in the world’s second-largest economy contracted in January.
Hourly chart
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As seen above, the relative strength index (RSI) has produced lower highs as opposed to higher highs on price. The bearish divergence has likely opened the doors to the bullish 50-hour moving average (MA) support, currently at 0.7237.
The bearish pattern, however, would fail if China January Caixin PMI prints above 50.00, signaling expansion in the manufacturing sector.
Trend: mildly bearish
AUD/USD
Overview:
Today Last Price: 0.7269
Today Daily change: 0.0001 pips
Today Daily change %: 0.01%
Today Daily Open: 0.7268
Trends:
Daily SMA20: 0.7172
Daily SMA50: 0.7168
Daily SMA100: 0.7172
Daily SMA200: 0.7294
Levels:
Previous Daily High: 0.7296
Previous Daily Low: 0.7228
Previous Weekly High: 0.7185
Previous Weekly Low: 0.7076
Previous Monthly High: 0.7296
Previous Monthly Low: 0.6684
Daily Fibonacci 38.2%: 0.727
Daily Fibonacci 61.8%: 0.7254
Daily Pivot Point S1: 0.7232
Daily Pivot Point S2: 0.7195
Daily Pivot Point S3: 0.7163
Daily Pivot Point R1: 0.73
Daily Pivot Point R2: 0.7332
Daily Pivot Point R3: 0.7369
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