AUDJPY in focus
http://www.keytomarkets.com/blog/blog/ktm-fx-daily-market-reaction-on-china-pmis/
As the China PMIs beat market expectations, we expect AUDJPY bulls could try to breach the upper end of the resistance.
Both the Copper and CNH have supported but not rallied post the Caixin data. At the time of writing AUDUSD gradually moving above 50MA and currently trading at 0.7120. On a lower time frame chart (H4), the supporting indicators still advantageous for bulls. In this case, watch out for 0.7150-0.7170. The flip side support zone remains between 0.7040-0.7060 below here 0.7000 exists.
As the China PMIs beat market expectations, we expect AUDJPY bulls could try to breach the upper end of the resistance.
Both the Copper and CNH have supported but not rallied post the Caixin data. At the time of writing AUDUSD gradually moving above 50MA and currently trading at 0.7120. On a lower time frame chart (H4), the supporting indicators still advantageous for bulls. In this case, watch out for 0.7150-0.7170. The flip side support zone remains between 0.7040-0.7060 below here 0.7000 exists.
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