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Aussie may not leave 0.75 just yet

It's a quiet week with regard to Australian economic data. Chinese Manufacturing PMI and Non-Manufacturing PMI on Friday will probably confirm lacklustre activity in the world's second largest economy. That may keep upticks in the pair contained.
The pair has been carving out a triangle-like pattern for more than two years. 0.75 has served as a mid-point and an axis around which volatility is compressing. Whatever direction the pattern will resolve to, it could make for a nice breakout trade in …
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Markets in holiday mode

Better than expected Chinese data, that was released overnight, hasn't had a great impact but it did contribute to a slightly better risk sentiment. Australian and New Zealand dollars remain in near-term uptrend while yen put in at least a temporary top.
A quiet European session is the most likely scenario with main financial centers closed for Easter Monday. Some more activity is possible in N.A. session but many participants will prefer not to involve until tomorrow. That does not rule out a s…
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Kiwi settles between 50 and 100 DMA

Following weak Chinese data over the weekend, both Aussie and Kiwi opened with a gap lower. The former rose from the open while the latter, whose gap was smaller, traded lower in the early Asian session before rising too.
This is the second time that Kiwi bounced from the strong support in 0.6700 - 0.6750 band, which includes February highs and 100 DMA. The topside has been capped by 50 DMA recently. Whichever DMA will give way first will likely determine the direction of the next leg.
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Chinese data release tonight

Tonight sees the release of Chinese GDP and production over Q4
The Chinese data release tonight is something that could influence the markets
Traders believe the risk is to the downside - meaning the data should come in soft
Positioning over the markets has therefore been selling the commodity currencies
This means that Aud and Nzd have been sold, and are low
I tend to buy Aud and Nzd tonight, and if the data release is better than expected,
we should see the Aud and Nzd go up
gl all
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Important day for Australian dollar

As Chinese Manufacturing data and Australia Interest rate decision is on the line, it's going to be important day for Australia fundamentally. If the data from Chinese is ok and RBA shows some hawkish tone, then it will be flier for Aussie dollar. Lets wait and see!

01:00 CNY Manufacturing PMI (Nov)
01:00 CNY Non-Manufacturing PMI (Nov)
01:45 CNY Caixin Manufacturing PMI (Nov)
01:45 CNY Caixin Services PMI (Nov)
03:30 AUD Interest Rate Decision (Dec)
03:30 AUD RBA Rate Statement
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