AUD/USD: supported on better looking China - FXStreet

Valeria Bednarik, chief analyst at FXStreet explained that the AUD/USD pair closed the day modestly higher, but was unable to hold on to gains above the critical 0.7600 level, despite an early spike beyond it on dollar's early weakness.

Key Quotes:

"The Aussie found some support on better-than-expected Chinese data, as the Caixin Services PMI for August, beat expectations of 51.9, printing 52.1. Also, Friday's recovery in commodities and stocks extended during the first half of the day, supporting the antipodean currencies. During the upcoming Asian session, the RBA will have its economic policy meeting, largely expected to keep rates at 1.5%. If that is the case, attention will turn to the bank's statement, the last with Governor Glenn Stevens, as incoming RBA Governor Philip Lowe is due to take office on September 18th."