Australian Dollar floats above 200-SMA on mixed China news, sluggish sentiment

AUD/USD struggles to defend bulls during the first positive day in three.
Risk appetite remains mixed as hopes of more stimulus from China, Covid woes test sentient amid light calendar.
Hopes of Australia-China diplomatic ties also underpin AUD/USD rebound.
Reserve Bank of Australia Meeting Minutes, Federal Reserve’s preferred inflation data will be crucial for Australian Dollar traders.

AUD/USD seesaws around the 0.6700 round figure as a short-term moving average defends the Australia Dollar buyers during early Monday morning in Europe. In doing so, the Aussie pair portrays the cautious optimism in the market amid sluggish moves and a light calendar. However, broad US Dollar weakness allows the pair buyers to cheer the first daily gains in three.

China-linked news favor AUD/USD buyers.

Be it a likely restoration of the Aussie-Sino ties or China’s readiness for more…

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