AUD/USD unfazed by better China data dump, near 0.7500

Having faded a spike above 0.75 handle, the AUD/USD pair keeps its range intact near the last, following the release of slightly upbeat Chinese macro updates.

AUD/USD offered ahead of Fib R1 at 0.7510

Currently, the AUD/USD pair trades modestly flat at 0.7497, having found some support near 0.7490 region over the last hours. The Aussie is seen consolidating yesterday’s rebound, although remains in a tight range, as the bulls almost shrugged-off better-than expected Chinese retail sales and industrial production data.

The AUD/USD pair lacks upside momentum as weaker domestic fundamentals continue to weigh on the AUD, with the latest one being deteriorating business conditions data, as published by the NAB.

All eyes now remain focused on the Fed decision due tomorrow for next direction on the spot. In the meantime, markets now await the US retail sales and PPI data for further momentum.

AUD/USD Levels to watch   

The pair finds the immediate resistance at 0.7510/14 (Fib daily R1/ high) above which gains could be extended to the next hurdle located 0.7575 (Nov 16 high) and 0.7600 (zero figure). On the flip side, the immediate support located 0.7400 (round number). Selling pressure is likely to intensify below the last, dragging the Aussie to 0.7385 (key support) and below that at 0.7366 (Dec 1 low).