AUDUSD Price Reached Multi-week Resistance, Coming weeks we will SEE big correction downside towards 0.6000 level.
China Data vs AUDUSD
A monthly gauge of manufacturing activity and future outlook. The CIPS PMI is comparable to the US ISM survey, similarly based on the opinions of executives in manufacturing companies. Purchasing managers are tasked with gauging future demand, and adjusting orders for materials accordingly. The PMI summarizes the opinions of these executives to give a picture of the future of the manufacturing sector. A higher PMI indicates that materials purchases are increasing and that the economic outlook is positive. Alternately, a lower PMI means orders for materials are down and the future outlook is less favorable. By nature, the figure is very sensitive to the business cycle and tends to match growth or decline in the economy as a whole.
The PMI is presented as an index with a value between 1-100
🛑SUPPORT/RESISTANCE
✅S1= 0.6400
✅S2=0.6000
✴️R1=0.6560
✴️R2=0.6630
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China Data vs AUDUSD
A monthly gauge of manufacturing activity and future outlook. The CIPS PMI is comparable to the US ISM survey, similarly based on the opinions of executives in manufacturing companies. Purchasing managers are tasked with gauging future demand, and adjusting orders for materials accordingly. The PMI summarizes the opinions of these executives to give a picture of the future of the manufacturing sector. A higher PMI indicates that materials purchases are increasing and that the economic outlook is positive. Alternately, a lower PMI means orders for materials are down and the future outlook is less favorable. By nature, the figure is very sensitive to the business cycle and tends to match growth or decline in the economy as a whole.
The PMI is presented as an index with a value between 1-100
🛑SUPPORT/RESISTANCE
✅S1= 0.6400
✅S2=0.6000
✴️R1=0.6560
✴️R2=0.6630
Please like, share, comments and follow me to get daily base analysis
Thank you for your support, I appreciate it.