FxWirePro: AUD/USD holds 55-EMA support, edges higher on PBOC status-quo

AUD/USD chart - Trading View 

AUD/USD was trading 0.09% lower on the day at 0.7730 at around 04:40 GMT.

The pair bounced off from session lows at 0.7703 after People’s Bank of China (PBOC) rate decision.

The PBOC matched wide market forecasts while keeping one-year and five-year loan prime rates (LPR) unchanged at 3.85%, 4.65% in that order.

Upbeat comments from PBOC Governor Yi Gang suggesting, “China's total debt-to-GDP ratio, remains at a stable level, which helps create an environment less likely to spawn financial risks.” also support antipodeans.

Focus on speeches from the key Federal Reserve (Fed) authorities for near-term AUD/USD direction amid light data calendar.

Upside likely to be limited as ongoing virus woes and vaccine jitters keep risk sentiment depressed.

Technical bias on the intraday charts has turned bearish as price action dips below 200H MA. 

The pair is holding support at 55-EMA, break below will see dip till daily cloud. Breach at cloud support will open downside.