FxWirePro: AUD/USD clings to moderate gains, Aussie buoyed by positive trade war headlines

AUD/USD chart - Trading View 

Technical Analysis: Intraday bias neutral

AUD/USD was holding moderate gains at the time of writing. The pair was trading 0.16% higher on the day at 0.7172 at around 03:55 GMT.

The Australian dollar ignores poor employment stats, remains buoyed by positive trade war headlines.

The data released early today showed Australia’s Weekly Payroll Jobs and Wages were down 1.0 over a month to August 08. 

Further, the employment barometer fell 4.8% compared to the mid-March period when the coronavirus (COVID-19) hit market sentiment.

The optimism over the US-China trade talks and coronavirus treatment support the higher-yielding aussie.

Price action is above daily cloud and major moving averages. Major trend in the pair is bullish.

The pair is holding support at 21-EMA at 0.7153. Break below could see some weakness. Next major support lies at 55-EMA at 0.7027.

Intraday bias is neutral. Sideways grind likely for a few more sessions before the next bullish leg.