- AUD/USD takes the bids near intraday high after Australia’s largest customer recently flashed upbeat data.
- China’s September month Caixin Services PMI crossed 50.7 forecast and 54.00 prior with 54.8.
- 21-day SMA, a three-week-old falling trend line offer immediate upside barrier.
AUD/USD bulls attack the 0.7185/90 resistance confluence during early Friday. The pair recently gained from strong prints of China’s Caixin Services PMI whereas upbeat risk tone also favor the bulls.
Read: China’s Caixin 54.8 vs 54.0 in August, recovery extends
Additionally, MACD is turning bullish and hence challenging the confluence of 21-day SMA, a descending trend line from September 18, around 0.7190.
Other than the immediate upside barrier, the 50-day SMA level of 0.7206 and a five-week-old downward sloping resistance line, at 0.7245 now, also probe the bulls.
In a case where AUD/USD manages to cross 0.7245, the 0.7300 threshold and the mid-September high near 0.7350 can please the buyers.
Alternatively, the monthly bottom surrounding 0.7095, followed by September 25 top near 0.7085, can restrict the pair’s near-term declines ahead of the previous month’s low close to the 0.7000 psychological magnet.
AUD/USD daily chart
Trend: Bullish
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