AUD/USD Price Analysis: Bull flag, upbeat China data and pre-RBA positioning highlight 0.6750 for buyers AUDUSD China PMI Technical Analysis ChartPatterns
That said, strong US teased Aussie pair sellers during the week-start trading before the firmer Australia-China data recall the buyers. Earlier in the day, China’s Caixin Services PMI matches 57.1 market forecasts for May versus 56.4 previous readings. Before that, Australia’s TD Securities Inflation rose 0.9% MoM in May versus 0.2%.
However, the Aussie pair’s successful trading above the 200 and 100 SMAs, as well as a three-day-old rising support line, keeps the pair buyers hopeful of crossing the immediate 0.6700 hurdle, which in turn highlights a theoretical run-up towards the 0.6750 mark.
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