AUD/USD advances sharply towards 0.7020s on a risk-on mood, ahead of Aussie Wage Price Index By christianborjon AUDUSD Majors Macroeconomics Technical Analysis
sentiment session that weighed on the greenback, which remains soft on Tuesday, despite higher US Treasury yields. At the time of writing, the AUD/USD is trading at 0.7022.remain on the right foot, trading in the green, while in the FX space, risk-sensitive currencies rise, while safe-haven peers are getting smashed by the improvement in the market sentiment, courtesy of progress in the Covid-19 crisis in China.
If AUD/USD bulls achieve the above-mentioned, the pair’s first resistance would be 0.71000, followed by March 15 daily low-turned-resistance at 0.7165 and then 0.7200. However, if that scenario does not play out, the major’s first support would be 0.7000, followed by the January 28 daily low at 0.6967 and the YTD low at 0.6828.
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