AUD/USD in minor recovery within major bear trend

Currently, AUD/USD is trading at 0.7218, up 0.50% on the day, having posted a daily high at 0.7225 and low at 0.7168.

AUD/USD remains in recovery mode although within a heavily strong bearish trend and continues to trade with a bearish bias. 

The markets will be back to full and pressures in a strong greenback are likely to continue weighing on the Aussie In respect to data, we had the official Chinese data with the Non-Manufacturing December PMI came in at 54.5, below previous 54.7, while manufacturing activity slowed in the same month, as the NBS Manufacturing PMI came in at 51.4, against previous 51.7 and the expected 51.5. 

Key Chinese data on the cards - BBH

AUD/USD levels

AUD/USD have well have topped at recent highs through the 10 dma while spot is presently trading at 0.7219 and below the 200 sma on the 1hr sticks, next resistance can be seen at 0.7222 (Yesterday's High), 0.7225 (Daily High), 0.7248 (Daily Classic R2), 0.7273 (Daily Classic R3) and 0.7273 (Weekly Classic R1). Next support to the downside can be found at 0.7218 (Hourly 200 SMA), 0.7217 (Weekly Classic PP), 0.7215 (Daily Classic R1), 0.7210 (Weekly High) and 0.7203 (Hourly 20 EMA).