TECHNICAL ANALYSIS

AUD / USD extends gains as dollar weakens to launch session


AUD / USD up over 1.3% on the day

AUD / USD D1 01-06
See here for global coronavirus case data

March’s rise for the aussie against the dollar continues as we see the AUD / USD climb to a high of 0.6755 currently, gaining more than 1.3% on the day.

This comes in the middle of a break in the 200-day period (blue line) with the Australian rally after US President Trump relaxed on China amid the Hong Kong issue late last week.

In the midst of the technical breakthrough here and the fact that risky transactions continue to get better, a move towards 0.7000 is not so far from consideration at this point.

Even the key currency risk barometer is also emerging:

AUD / JPY D1 01-06

AUD / JPY seeks to exceed its own MA at 200 days (blue line) and this creates a new bullish momentum for Australian and risky currencies in general.

Tags

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Close
Close