AUD/USD chart - Trading View
AUD/USD was trading above 0.77 handle at around 05:00 GMT, outlook strongly bullish.
The pair grinds higher despite mixed China PMI data, takes cues from gains in Wall Street and upbeat risk-on mood.
Data released by National Bureau of Statistics (NBS) of China showed December’s Manufacturing PMI eased from 52.4 prior and 52.0 forecast to 51.9.
Meanwhile the Non-Manufacturing PMI rose past-52.4 forecast and 56.4 previous readouts to 55.7.
Aussie bulls also cheer mild risk-on sentiment and US dollar weakness aids upside in the pair.
Technical studies are also bullish. Momentum strongly bullish with RSI above 70 mark. Bulls target 88.6% Fib at 0.7836.
21-EMA is strong support at 0.7541. Break below could see near-term weakness. Bullish invalidation only below 200W MA.
