The AUDUSD is moving higher today, supported by risk-on sentiment—the Nasdaq is up over 360 points—and optimism surrounding improving U.S.–China trade relations (at least for now). From a technical perspective, the pair showed resilience on Friday, holding firm near recent swing lows even as stocks weakened earlier in the session, setting a solid foundation for today’s rebound.In early Asian trading, the pair opened near the 100-hour moving average around 0.6496, where buyers quickly stepped in to drive the price higher. The advance pushed the pair through a series of key resistance levels, including the 0.6500–0.6504 swing zone, Thursday’s 0.6518 ceiling, and another swing area near 0.6524, which aligned with the 200-hour moving average. The rally extended to test the 200-day moving average at 0.6538, where sellers have twice capped further gains heading into the U.S. session.For buyers to maintain control and extend the upside momentum, a break and hold above the 200-day moving average will be crucial. Conversely, failure to clear that level could see profit-taking and a return toward the 200-hour MA near 0.6525 as near-term support. This article was written by Greg Michalowski at investinglive.com.