Nine-day EMA acts as a barrier near 0.6450, US PMIs eyed

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<li><strong>AUD/USD treads water ahead of the US PMI data release.</strong></li>
<li><strong>Nine-day EMA acts as the immediate resistance at 0.6446.</strong></li>
<li><strong>MACD suggests tepid momentum, reflecting bearish sentiment in the AUD/USD pair.</strong></li>
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<p>AUD/USD trades higher around 0.6430 at the time of writing during the European session, treading waters to continue the winning streak that began on Monday. Investors await the release of <a href="https://www.fxstreet.com/economic-calendar/united-states">United States</a> (US) <a href="https://www.fxstreet.com/news/us-sp-global-pmis-preview-manufacturing-survey-expected-to-stay-below-50-in-august-202308230737">PMI</a> data later in the North American session, seeking more cues on the economic situation in the US.</p>
<p>The nine-day Exponential Moving Average (EMA) at 0.6446 acts as the immediate resistance, following the 23.6% Fibonacci retracement at 0.6489.</p>
<p>A breakout above that level could open the doors for the AUD/USD buyers to explore the region around the 21-day EMA at 0.6518, followed by the 38.2% Fibo at 0.6566.</p>
<p>On the downside, the 0.6400 psychological level appears to be the key support, following the region around the monthly low at 0.6364.</p>
<p>The Moving Average Convergence Divergence (MACD) line suggests a tepid momentum, reflecting the mixed sentiment of AUD/USD traders as it stays below the centerline but shows convergence below the signal line. The 14-day Relative Strength Index (RSI) remains below 50, which suggests a bearish bias in the pair.</p>
<h3><strong>AUD/USD: Daily Chart</strong></h3>
<p><a href="https://editorial.fxstreet.com/miscelaneous/image-638283787871785841.png" target="_blank" rel="noopener"><img decoding="async" src="https://editorial.fxstreet.com/miscelaneous/image-638283787871785841.png" style="width: 600px; height: 217px;" /></a></p>
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<br /><a href="https://www.fxstreet.com/news/aud-usd-price-analysis-nine-day-ema-acts-as-a-barrier-near-06450-us-pmis-eyed-202308230911">Source link </a></p><p>The post <a href="https://forextraderhub.com/nine-day-ema-acts-as-a-barrier-near-0-6450-us-pmis-eyed.html">Nine-day EMA acts as a barrier near 0.6450, US PMIs eyed</a> first appeared on <a href="https://forextraderhub.com">Forex Trader Hub</a>.</p>