(DAILY NOTION) AUD/USD - U.S. Stimulus as its Impact on Risk Sentiment, Next Mover: Brexit and Congressional Covid-19 Impasse

The Australian Dollars closed higher last week support by increased demand for higher risk assets on the back of rising optimism to the start of vaccinations in the U.K.. The Australian Dollar surged around 37% for the March depression may prove to be the start of a prolonged period of strength against the U.S. Dollar.

The AUD/USD settled at 0.7535, up 0.0107 or 1.44% last week. Helping to cap gains, however, were concerns over Brexit and the impasse in the U.S. Congress over a fresh round of coronavirus-stimulus.

AUD/USD trading near 0.7535 during early Monday. It should be noted that intersection point of 100-HMA and an upward sloping trend line December 07, around 0.7475 or 0.7470 will challenge the pair’s further downside.

FOLLOWME Overall Sentiment (As of 3:30 p.m.)

As shown above, the overall sentiment of FOLLOWME traders in this symbol leans towards short-selling with a ratio of 60.05% while the rest of 33.95% is long position.