AUD/USD chart - Trading View
AUD/USD was trading 0.13% higher on the day at 0.7582 at around 03:35 GMT, after closing 0.71% higher in the previous session.
The pair is set for further gains as Aussie remains on the front foot on positive news regarding China and trade protectionism.
The Chinese Finance Ministry announced on Wednesday that it would be lowering tariffs on more products that are expected to be in high demand in 2021.
AUD/USD hovers around 5-DMA, trades below 0.76 handle. 21-EMA is strong support at 0.7493, weakness likely on break below.
On the flipside, the pair has formed a 'Dragonfly Doji' on the weekly candle which shows buying at lows. Resumption of upside will see test of 88.6% Fib at 0.7836.
