AUD/USD keeps minor-recovery intact post–China PMI

The recovery mode seen in the Australian dollar versus the greenback remains intact, despite below estimates Aus private capex data and a tad weaker Caixin Chinese PMI report.

AUD/USD strives to take-out 0.7500

Currently, the AUD/USD pair trades +0.12% higher at 0.7392, extending its struggle to rise above 0.74 handle. The Aussie moved-off lows reached following the release of disappointing Australian private capital investment data, and now wavers just below 0.7400 level, as markets digest the latest Chinese PMI report published by Caixin.

The sentiment around the AUD/USD pair remains underpinned amid overnight rally in oil prices and also on the back of a set of upbeat Chinese manufacturing PMI readings.

The Caixin Chinese PMI came in at 50.9 vs 50.8 exp and 51.2 last, remaining in the expansion territory for a 5th consecutive month. While China's national PMI stood at 51.7 vs 51 exp. 

Next of note for the major remains the US weekly jobless claims and ISM manufacturing PMI releases, which will be published later in the NA session.

AUD/USD Levels to watch   

The pair finds the immediate resistance at 0.7437 (5-DMA) above which gains could be extended to the next hurdle located 0.7460 (20-DMA) and 0.7505 (Nov 17 high). On the flip side, the immediate support located 0.7336 (daily S1). Selling pressure is likely to intensify below the last, dragging the Aussie to 0.7300 (zero figure) and below that at 0.7286 (daily S2).