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AUD/USD picks up bullish momentum after upbeat Chinese PMI


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FXStreet (Bali) – AUD/USD is trading with a bid tone during Asia, with the last pop to the upside, worth over 25/30 pips coming on the back of a better-than-expected Chinese Manufacturing PMI in March (50.1 act vs 49.7 exp).

The latest print so far has seen the pair exchange hands at 0.7650, with Jim Langlands, Founder at FXCharts, noting that the surprise in the Chinese data may add some minor fuel for a run towards 0.7665.


However, the Australian-based Analyst adds: “I don’t think we head above here (7665) today, but if wrong, then 0.7700 and possibly to the Fibo resistance at 0.7725 (38.2% of 0.7937/0.7590) would come into view.”