AUD - BULLISH
1️⃣ Morrison Government is set to deliver one of the most important federal budgets since World War II later in the session.
2️⃣ Positive news about Trump’s coronavirus infection boosted investors' confidence, which undermined the US dollar's safe-haven status and benefitted the perceived riskier Australian dollar.
USD - BEARISH
1️⃣ Slight improvement in investors' risk appetite on news that President Trump may be able to leave the hospital on Monday, despite contradictory and confusing information about his recovery.
2️⃣ Traders hope the new coronavirus bill could be approved soon after the House Speaker Nancy Pelosi said on Sunday that progress is being made on it.
3️⃣ Today’s ISM data is likely to confirm the stall in the recovery.
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TECHNICAL
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- We're looking to long AUDUSD on RBS level + SMA100 area + Fibo retracement 61.8% area on H1 chart.
- AUDUSD still in bullish mode.
1️⃣ Morrison Government is set to deliver one of the most important federal budgets since World War II later in the session.
2️⃣ Positive news about Trump’s coronavirus infection boosted investors' confidence, which undermined the US dollar's safe-haven status and benefitted the perceived riskier Australian dollar.
USD - BEARISH
1️⃣ Slight improvement in investors' risk appetite on news that President Trump may be able to leave the hospital on Monday, despite contradictory and confusing information about his recovery.
2️⃣ Traders hope the new coronavirus bill could be approved soon after the House Speaker Nancy Pelosi said on Sunday that progress is being made on it.
3️⃣ Today’s ISM data is likely to confirm the stall in the recovery.
=====
TECHNICAL
=====
- We're looking to long AUDUSD on RBS level + SMA100 area + Fibo retracement 61.8% area on H1 chart.
- AUDUSD still in bullish mode.