AUD - BULLISH
1️⃣ US Senate Majority Leader Mitch McConnell pledged to get a fiscal stimulus deal done before Congress leaves for the holidays.
2️⃣ Demand for riskier currencies was boosted by hopes that a rollout of coronavirus vaccines will support global economic recovery.
3️⃣ The IHS Markit Manufacturing PMI rose to 56 in December from 55.8 in November, the sixth straight month of expansion and the highest since July, while the Services PMI also posted the highest reading in five months and the fourth consecutive expansion.
4️⃣ The Westpac-Melbourne Institute Leading Economic Index rose by 0.5% month-over-month in November.
USD - BEARISH
1️⃣ The approval of Pfizer-BioNTech COVID Vaccine in the US and its subsequent rollout brightened the economic outlook and sent risk sentiment into overdrive.
2️⃣ The possibility of additional stimulus in the US, with both Democrats and Republicans confident that Congress would agree on around $900 billion coronavirus-aid bill before the holiday break, is putting additional pressure on DXY as investors are concerned about rising government debt.
3️⃣ The Federal Reserve is expected to keep its fed funds rate steady at 0-0.25 percent at the end of its last two-day policy meeting of 2020, and to adopt a more dovish tone.
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Technical
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We are looking to buy the AUDUSD at the support of 0.75500 + above SMA 50 on the H1 chart.
1️⃣ US Senate Majority Leader Mitch McConnell pledged to get a fiscal stimulus deal done before Congress leaves for the holidays.
2️⃣ Demand for riskier currencies was boosted by hopes that a rollout of coronavirus vaccines will support global economic recovery.
3️⃣ The IHS Markit Manufacturing PMI rose to 56 in December from 55.8 in November, the sixth straight month of expansion and the highest since July, while the Services PMI also posted the highest reading in five months and the fourth consecutive expansion.
4️⃣ The Westpac-Melbourne Institute Leading Economic Index rose by 0.5% month-over-month in November.
USD - BEARISH
1️⃣ The approval of Pfizer-BioNTech COVID Vaccine in the US and its subsequent rollout brightened the economic outlook and sent risk sentiment into overdrive.
2️⃣ The possibility of additional stimulus in the US, with both Democrats and Republicans confident that Congress would agree on around $900 billion coronavirus-aid bill before the holiday break, is putting additional pressure on DXY as investors are concerned about rising government debt.
3️⃣ The Federal Reserve is expected to keep its fed funds rate steady at 0-0.25 percent at the end of its last two-day policy meeting of 2020, and to adopt a more dovish tone.
=====
Technical
=====
We are looking to buy the AUDUSD at the support of 0.75500 + above SMA 50 on the H1 chart.
Order cancelled:
DELETE PENDING ORDER
Delete order ahead FOMC decision.
Delete order ahead FOMC decision.