The Australian dollar sold off in Asia on a soft China PMI, falling 70 pips to as low as 0.8937 but the declines have now been completely wiped out as AUD/USD touches a session high at 0.9017.

The appetite for risk in the market and the ability to disregard bad news is incredible. For AUD/USD the turnaround is impressive but until 0.9089 breaks, it’s tough to pile in.

AUDUSD analysis

AUD/USD daily