AUD/USD keeps losses following mixed batch of China data

Upbeat China industrial production and a weaker-than-expected retail sales and urban investment figures are helping Aussie dollar recover losses, although the AUD/USD pair still trades 0.15% lower on the day at 0.7560 levels. 

China’s retail sales came-in at 9.5% y/y in Jan, missing the estimate of 10.5%. Industrial production bettered estimates to print at 6.3%, while the urban investment number printed lower than estimates. 

Offered at 50-DMA

The currency pair was offered at 50-DMA earlier today after the data released in Australia showed the NAB monthly business survey fell from highs in February. 

AUD/USD Technical Levels

The currency pair clocked a low of 0.7549 before recovering to 0.7560. Breach of immediate resistance at 0.7572 (50-DMA) would expose 0.7592 (previous day’s high), above which the spot could target 0.7632 (Mar 7 high). On the other hand, a breakdown of support at 0.7535 (200-DMA) could yield a sell-off to 0.7513 (100-DMA) and 0.7491 (Mar 9 low).