AUD/USD opened 0.41% higher at 0.7754 as AUD outperformed its peers

The Lunar New-Year holiday resulted in extremely thin trading in Asia

Profit taking resulted in the AUD/USD drifting down to 0.7740

Heading into the afternoon it is trading at the session lows

Sluggish equities undermined with E-minis down 0.17% and Nikkei down 0.25%

Also weighing was news Victoria was going into a 5-day lockdown due to coronavirus concerns nS9N2CP001

AUD/USD support is at the 21-day MA at 0.7292 and 10-day MA at 0.7679

Resistance is at the Jan 6 trend high at 0.7819

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