AUD/USD catches the softest of bids on China’s upbeat Caixin Services PMI reading

• China’s Caixin Services PMI improves to 53.9 (forecast 52.9), providing support in Friday’s Asia session.
• The Aussie is enjoying a small spell out from under the thumb of bears, but the major pair remains deeply bearish.

AUD/USD is ticking back near Thursday’s highs around 0.7015, rising after China’s Caixin Services PMI for December improved to 53.9  

The Aussie experienced a mild lift after Chinese officials reiterated that China and the US will be holding vice-minister level talks January 7th and 8th, which was an echo of the original announcement back in December, and the pair is further extending a bullish pickup, albeit weakly.

0.7030 rests close at hand as a significant support-turned-resistance zone, and the AUD’s brief reprieve from selling pressures may soon turn back towards the downside, though recovering risk sentiment in the Pacific-Asia sector could see the Aussie keep the bullish wheels  upright heading into the final trading day for the week.

AUD/USD Technical Levels