FXStreet (Edinburgh) - The Aussie dollar is trading back above the 0.70 barrier vs. the dollar, now lifting AUD/USD to the 0.7020 region. AUD/USD rebounds from 0.6980 After a brief test of daily lows in the 0.6980 area, spot has managed to pick up pace and stage a rebound to first retake the 0.70 key handle and afterwards advance to session tops near 0.7030. A better tone from Chinese equity markets plus a generalized recovery in commodities has lent extra support to AUD. In the data space, NAB Business Confidence and Business Conditions indexes have both printed lower results at 3 and 7, respectively. AUD/USD relevant levels At the moment the pair is advancing 0.20% at 0.7020 facing the next up barrier at 0.7152 (55-day sma) followed by 0.7356 (200-day sma) and finally 0.7388 (high Dec.3). On the flip side, a breakdown of 0.6900 (psychological handle ) would expose 0.6824 (low Jan.14) and then 0.6283 (monthly low Match 2009). For more information, read our latest forex news.