Chart - Courtesy Trading View
AUD/USD was trading 0.17% higher on the day at 0.6421 at around 05:25 GMT.
The pair has closed a bearish gap open and edged higher from session lows at 0.6393.
Risk-on impulse regains traction supporting the commodity-linked currencies across the board.
The pair has brushed aside downbeat China Manufacturing PMI for October, traders look forward to China activity numbers and the US Nonfarm Payrolls (NFP).
China’s official NBS Manufacturing PMI for October dropped to 49.2 versus 50.0 expected and 50.1 prior.
Further, the Non-Manufacturing PMI also slumped to 48.7 well below 51.9 market forecasts and 50.6 previous readings.
Anxiety ahead of the Federal Open Market Committee (FOMC) meeting announcements and the US NFP jobs report for October (due Friday) keeps trading muted.
Major Support Levels:
S1: 0.6405 (21-EMA)
S2: 0.6355 (20-DMA)
Major Resistance Levels:
R1: 0.6434 (5-DMA)
R2: 0.6525 (Upper BB)
Summary: AUD/USD comatose at 21-EMA, price action holds above 200H MA support, major trend in the pair is bearish. Retrace below 21-EMA will see more downside. Next immediate support lies at 20-DMA at 0.6355.
