AUD/USD opens +0.46% and completed a bullish outside day reversal

China optimism following China PMI helped to underpin AUD/USD nL1N3591C0

Risk-aversion due to inflation concerns helped to cap the rally nL1N3592RU

AUD/USD rally Wednesday stopped short of the 200-day MA at 0.6795

The 10-day MA is just behind at 0.6797 - so 0.6795/0.6800 is key resistance

A break above the 10-day MA targets the 21-day MA at 0.6872

AUD/USD buyers are tipped at 0.6695/0.6700 with support at 50% of 0.6170/0.7158 move at 0.6664

Bias is for The AUD/USD to move higher after bullish outside day

A break above 0.6800 would likely spark fresh short-covering

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