AUD/USD drops on soft China offical PMIs

Audiocodes

30/11/2018 01:08

* China Nov NBS manufacturing PMI 50.0 vs 50.2 forecast and prior 
    * AUD/USD falls 0.1% to 0.7314 on the release 
    * China Nov NBS services PMI falls to 53.4 from 53.9 in Oct
    * Composite PMI at 52.8 in Nov from 53.1 in Oct 
    * S/t MAs and momentum studies support further gains in the AUD/USD
    * Next resistance the 0.7349 50% retracement, break targets 200 DMA at
0.7421






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 ((rick.lloyd@thomsonreuters.com))