(DAILY NOTION) AUD/USD - AUD Gains Ground Against U.S. Dollar, Next Mover: Fed Interest rate decision
The AUD/USD is currently trading at 0.7575. The main event of the FX market is the Fed interest rate decision. The U.S. dollar will find itself pressure if the Fed is dovish.
The Australia Manufacturing PMI increased from 55.8 in November to 56.0 in December and the Services PMI increased from 55.1 to 57.4.The rebound of the Australian economy remains strong thanks to the country’s success in containing the Covid-19 virus.
The AUD/USD managed to get above the resistance level at 0.7535 and is trying to settle above the resistance level at the recent highs at 0.7575. If AUD/USD manages to settle above this level, it will move and head towards the next resistance level at 0.7600.
FOLLOWME Overall Sentiment (As of 6:00 p.m.)
As shown above, the overall sentiment of FOLLOWME traders in this symbol leans towards short-selling with a ratio of 65.71% while the rest of 34.29% is long position.
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