AUD/USD: Cautious ahead of China data, around 0.7060

By FXStreet FXStreet (Mumbai) – The Aussie halted its four-day rally and inched lower in the mid-European session, as traders remain wary ahead of the upcoming US data later today. While the release of Chinese data flow also keeps the market on the edge.

AUD/USD recovers from 0.7036 lows

Currently, the AUD/USD pair trades -0.12% lower at 0.7056, having posted a high at 0.7080 and a low at 0.7036. The AUD/USD pair paused its down-slide and recovered from lows as traders look for fresh cues from the US PPI and consumer sentiment data to be reported later today.

The AUD/USD pair capped the recent upsurge backed by upbeat Australia’s jobs data and fell in to losses during the European session as traders unwound their AUD longs amid increased nervousness ahead of Chinese retail sales and fixed asset investment data due to be released on Sunday.

AUD/USD Levels to watch

The pair has an immediate resistance at 0.7080 (Today’s High) levels, above which gains could be extended to 0.7157 (Sept 1 High) levels. On the flip side, support is seen at 0.7009 (Sept 1 Low) levels from here it to 0.6980 (Sept 2 Low).
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Source:: FX Street