FxWirePro: AUD/USD bounces off cloud support, reclaims 0.67 handle

Chart - Courtesy Trading View 

AUD/USD has erased previous session's losses. The major has bounced off daily cloud support and has reclaimed 0.67 handle.

The pair was trading 0.96% higher on the day at 0.6715 at around 09:45 GMT, slightly below session highs at 0.6742.

A significant recovery in investors’ risk appetite supports the antipodeans and other riskier assets across the board.

Chinese marshals are working on restricting protests from individuals against Covid-19 lockdown measures. Further, China announced stimulus to offset weaker economic projections.

Risk appetite has improved sharply pushing the pair higher from session lows at 0.6640. The pair has retraced dip below 200H MA, further upside on cards. 

Focus will be on on Thursday’s China Caixin Manufacturing PMI data, which is seen lower at 48.6 vs. the prior release of 49.2.

US Automatic Data Processing (ADP) Employment data will also be watched for impetus ahead of Friday's key NPF report.

Some anxiety prevails ahead of the speech from Federal Reserve (Fed) chair Jerome Powell, which is due on Wednesday.