Aussie struggles at trend line hurdle despite upbeat Capex number

AUD/USD is having a tough time breaking above 0.7907 [resistance offered by the trend line sloping upwards from the Aug 16 low and Aug 24 low], even though the private capex rose 0.8% in Q, beating the estimate of 0.3% by a big margin. 

Aussie 10-year yield rallies

The 10-year government bond yield is up more than 6 basis points at 2.734%. Meanwhile, its US counterpart is flat lined around 2.148%. Despite the improvement in the Aussie-US 10-year yield spread, the AUD/USD is struggling to gather bullish momentum above 0.79 handle. 

The currency pair clocked a high of 0.7923 earlier today before deflating to 0.7907 levels. 

AUD/USD Technical Levels

A break above 0.7920 [4-hour 200-MA] would open up upside towards 0.7938 [4-hour 10-MA] and 0.7996 [Aug 29 high]. On the downside, breach of support at 0.79 [zero levels] could yield a sell-off to 0.7885 [rising trend line support on the daily chart] and 0.7866 [Aug 24 low].