AUD - BULLISH
1️⃣ Optimism about global economic recovery and elevated commodity prices continue to boost demand for commodity-exposed currency.
2️⃣ Australia's seasonally adjusted wage price index rose by 1.4% year-on-year in the fourth quarter of 2020, the same as in the previous period and compared with market forecasts of 1.1%.
USD - BEARISH
1️⃣ Higher US Treasury yields failed to offer lasting support.
2️⃣ A large budget and current account deficits have made the US currency an increasingly unattractive investment.
3️⃣ Biden and his Democrat-controlled Congress are due to roll out massive spending plans that include extra $1,400 checks for most Americans.
4️⃣ Fed Powell: The economy is a long way from Fed's employment and inflation goals, and it is likely to take some time for substantial further progress to be achieved.
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Technical
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We are buying the AUDUSD on RBS + above SMA 50 on the H1 chart.
1️⃣ Optimism about global economic recovery and elevated commodity prices continue to boost demand for commodity-exposed currency.
2️⃣ Australia's seasonally adjusted wage price index rose by 1.4% year-on-year in the fourth quarter of 2020, the same as in the previous period and compared with market forecasts of 1.1%.
USD - BEARISH
1️⃣ Higher US Treasury yields failed to offer lasting support.
2️⃣ A large budget and current account deficits have made the US currency an increasingly unattractive investment.
3️⃣ Biden and his Democrat-controlled Congress are due to roll out massive spending plans that include extra $1,400 checks for most Americans.
4️⃣ Fed Powell: The economy is a long way from Fed's employment and inflation goals, and it is likely to take some time for substantial further progress to be achieved.
=====
Technical
=====
We are buying the AUDUSD on RBS + above SMA 50 on the H1 chart.
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✅ TRADE HAS HIT TP
+30 PIPS
+30 PIPS