AUD/USD bounces as the US dollar drops with Treasury yields. Gains in the S&P 500 futures also underpin the aussie dollar. Dismal Chinese data could cap the gains ahead of US Retail Sales. Fresh selling seen in the US dollar alongside the Treasury yields appears to put a fresh bid under AUD/USD, as the rates jump back above the 0.7150 barrier. The spot consolidated below the latter almost through the Asian trades amid a cautious market mood, as disappointing Chinese activity numbers and resurgence of the coronavirus cases dampened appetite for riskier assets. Heading into Europe, the greenback ran through fresh offers, as the Treasury yields retreat following the overnight advance led by weak US bond auction. The renewed strength in the S&P 500 futures also seem to bode well for the higher-yielding aussie. From a short-term technical perspective, the uptick in the aussie can be associated with a breakthrough the critical resistance at 0.7155, the convergence of the 21, 50 and 100-hourly Simple Moving Averages (HMA). The hourly RSI has jumped back above the midline into the bullish region, suggesting more room for upside. Therefore, the price could extend the advance to test the next powerful resistance at 0.7170, where the horizontal 200-HMA and falling trendline resistance meet. To the downside, the daily low of 0.7133 could offer immediate cushion, below which the falling trendline support at 0.7129 will be put to test. All eyes now remain on the US Retail Sales data and US-China trade talks for fresh trading impetus. AUD/USD: Hourly Chart AUD/USD: Additional levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Gold to find support at $1946.50 ahead of US Retail Sales FX Street 2 years AUD/USD bounces as the US dollar drops with Treasury yields. Gains in the S&P 500 futures also underpin the aussie dollar. Dismal Chinese data could cap the gains ahead of US Retail Sales. Fresh selling seen in the US dollar alongside the Treasury yields appears to put a fresh bid under AUD/USD, as the rates jump back above the 0.7150 barrier. The spot consolidated below the latter almost through the Asian trades amid a cautious market mood, as disappointing Chinese activity numbers and resurgence of the coronavirus cases dampened appetite for riskier assets. Heading into Europe, the greenback ran through… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.