Chart - Courtesy Trading View
AUD/USD was trading 0.02% higher on the day at 0.7319 at around 05:10 GMT.
The pair has erased early losses and has edged higher from session lows at 0.7287.
Price action has edged above 200-DMA and decisive close above will fuel further gains.
Risk-on market sentiment buoys Aussie. Focus now on US inflation data for further impetus.
In its latest report published on Thursday, Moody’s Investors Services says 'Australia's stabilizing economic recovery will support steady mortgage performance.'
Further, Moody's forecasts 'Australian GDP will grow 3.5% in 2022, which will underpin steady mortgage performance.'
Technical bias for the pair is tilted to the upside. Close above 200-DMA will see upside resumption.
Major Support Levels:
S1: 0.7298 (200H MA)
S2: 0.7249 (21-EMA)
Major Resistance Levels:
R1: 0.7313 (200-DMA)
R2: 0.7375 (Upper BB)
Summary: AUD/USD pivotal at 200-DMA. Decisive close above will fuel further gains.
