AUD/USD chart - Trading View
AUD/USD was trading largely muted at 0.6789 at 04:35 GMT, bias remains bullish.
Aussie dampened slightly after data showed China's Trade Surplus widened in September on big drop in Imports.
China’s Trade Surplus in Yuan (CNY) terms expanded to CNY 280 billion in Sept from 239.6 billion flashed in August.
Further details showed Exports declining -0.7% versus +2.6% prior while Imports plunging -6.2% against -2.6% earlier.
Overall sentiment remains upbeat regarding the US-China trade deal. Markets await fresh clues for further impetus.
Technical studies are bullish. The pair is holding break above 21-EMA. Upside currently pauses at 55-EMA. Break above to fuel more gains.
Next hurdle on the upside lies at 110-EMA at 0.6867, while 21-EMA is strong support on the downside at 0.6767.
Recommendation: Stay long on break above 55-EMA, SL: 0.6765, TP: 0.6865/ 0.6975/ 0.7015.
