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AUD/USD catches the softest of bids on China's upbeat Caixin Services PMI reading

  • China's Caixin Services PMI improves to 53.9 (forecast 52.9), providing support in Friday's Asia session.
  • The Aussie is enjoying a small spell out from under the thumb of bears, but the major pair remains deeply bearish.

AUD/USD is ticking back near Thursday's highs around 0.7015, rising after China's Caixin Services PMI for December improved to 53.9 

The Aussie experienced a mild lift after Chinese officials reiterated that China and the US will be holding vice-minister level talks January 7th and 8th, which was an echo of the original announcement back in December, and the pair is further extending a bullish pickup, albeit weakly.

0.7030 rests close at hand as a significant support-turned-resistance zone, and the AUD's brief reprieve from selling pressures may soon turn back towards the downside, though recovering risk sentiment in the Pacific-Asia sector could see the Aussie keep the bullish wheels upright heading into the final trading day for the week.

AUD/USD Technical Levels

AUD/USD

Overview:
    Today Last Price: 0.7012
    Today Daily change: 10 pips
    Today Daily change %: 0.143%
    Today Daily Open: 0.7002
Trends:
    Previous Daily SMA20: 0.7108
    Previous Daily SMA50: 0.7184
    Previous Daily SMA100: 0.7187
    Previous Daily SMA200: 0.7346
Levels:
    Previous Daily High: 0.702
    Previous Daily Low: 0.6684
    Previous Weekly High: 0.7078
    Previous Weekly Low: 0.7014
    Previous Monthly High: 0.7394
    Previous Monthly Low: 0.7014
    Previous Daily Fibonacci 38.2%: 0.6892
    Previous Daily Fibonacci 61.8%: 0.6812
    Previous Daily Pivot Point S1: 0.6784
    Previous Daily Pivot Point S2: 0.6566
    Previous Daily Pivot Point S3: 0.6448
    Previous Daily Pivot Point R1: 0.712
    Previous Daily Pivot Point R2: 0.7238
    Previous Daily Pivot Point R3: 0.7457

 

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