AUD/USD breaches 1-hr 50-MA hurdle on upbeat China PMI data

A better-than-expected China Caixin PMI data is helping the AUD/USD pair scale new Intraday heights. The spot was last seen trading above the 1-hr 50-MA level of 0.7207.

The bid tone around the Aussie strengthened after the China December Caixin manufacturing PMI came-in at 51.9 vs. expected figure of 50.7. The previous figure stands unrevised at 50.9.

The details of the report suggest the operation conditions improved at the fastest pace in nearly four years.

At the time of writing, the spot was trading at the session high of 0.7210. Later in the day, the US ISM manufacturing print could influence the pair.

AUD/USD Technical Levels

A break above 0.7219 (Jan 2 high) would expose hurdle at 0.7246 (Dec 30 high) above which a major hurdle is seen directly at 0.73 (zero figure). On the other hand, a breakdown of support at 0.72 (zero figure) could yield a revisit to 0.7180 (session low). A violation there would expose 0.7160 (Dec 23 low).