(DAILY NOTION) AUD/USD - Australian Dollar Continues to Grind Higher, Trader Reaction to 0.7551, Next Mover: Brexit & U.S. Stimulus

The AUD/USD is current trading at around 0.7565 and is edging higher on light volume as traders prepare for the upcoming 2 days bank holiday. The price action for the AUD/USD pairs has been choppy through out the week as the uncertainty about the Brexit deal, U.S. stimulus as well as the pandemic recovery.

In the early this session on Tuesday, U.S. President Donald Trump threatened that he won't sign Covid-19 stimulus bill, saying that it should be increase the amount in the stimulus checks. This should pressure on the U.S. dollar though this had little impact on the Aussie dollar.

If AUD/USD settle above the 0.7551, it indicate the buyers is in control. Analyst stated that it could see a reset of 0.7640 if this move can generate enough upside momentum. On the other hand, if AUD/USD settle below 0.7551 indicate the sellers is in control. Analyst forecast that this could trigger a retest of 0.7489, followed by this week’s low at 0.7462.

FOLLOWME AUD/USD Overall Sentiment (As of 04:20 p.m, Dec 23, 2020),

Short - 56.54%

Long - 43.46%