AUD/USD gaps higher as US-China trade truce, good to long dips
AUD/USD opens with a bullish gap after US-China trade armistice over the weekend.
While the temporary pause in the trade war has put a strong bid under the antipodeans, slight improvement in China Caixin manufacturing PMI for November adds support.
We see scope for test of 200-DMA at 0.7417. Breakout at 200-DMA could see gains till 0.77 (61.8% Fib).
Good to go long on dips, SL: 0.73, TP: 0.7415/ 0.7450/ 0.7575
While the temporary pause in the trade war has put a strong bid under the antipodeans, slight improvement in China Caixin manufacturing PMI for November adds support.
We see scope for test of 200-DMA at 0.7417. Breakout at 200-DMA could see gains till 0.77 (61.8% Fib).
Good to go long on dips, SL: 0.73, TP: 0.7415/ 0.7450/ 0.7575