FxWirePro: AUD/USD extends marginal gains, Aussie ignores drop in S&P 500 futures and downbeat Trade data

AUD/USD chart - Trading View 

AUD/USD posts marginal gains on the day as prices took a U-turn after early Asia’s corrective pullback.

The Australian dollar largely ignored drop in S&P 500 futures and downbeat Trade data and was extending marginal gains on the day.

AUD/USD was trading 0.39% higher at 0.7550 at around 03:40 GMT, after closing 0.84% lower in the previous session.

Australia's preliminary reading of November Trade Balance suggest the headline figure grew 1,958M versus 4,840M prior. 

Also, Exports dropped from 6% in October to 1% while Imports surged from 8% to 11% during the stated period.

Markets stay risk-off amid Brexit and virus concerns. Focus on the US Durable Goods Orders, Michigan Consumer Sentiment and Weekly Jobless Claims data for clues.

Technical bias remains bullish. 'Death Cross' on the hourly charts keeps scope for further downside.

Immediate support seen at 21-EMA at 0.7481. Bullish invalidation below 200W MA (0.7234).