AUD - BULLISH
1️⃣ Investors continue to retreat from the US Dollar amid optimism over US stimulus talks and bets on a successful roll-out of novel coronavirus vaccines.
2️⃣ Australia retail sales rose by 1.4% month-over-month in October, posting the first increase in retail trade since July.
USD - BEARISH
1️⃣ Interest in safe heaven assets wained further on signs of progress in fiscal stimulus in US and hopes the COVID-19 vaccine can be deployed soon.
2️⃣ A worsening coronavirus pandemic and new lockdowns across the country raised concerns about the extent of economic pain before a vaccine is made available.
3️⃣ Low-interest rates and concerns about rising levels of debt in US are leaving room for further downside momentum.
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Technical
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We are buying the AUDUSD above the support of 0.74150 + above SMA 50 on the H1 chart.
The risk of the trade is the NFP report.
1️⃣ Investors continue to retreat from the US Dollar amid optimism over US stimulus talks and bets on a successful roll-out of novel coronavirus vaccines.
2️⃣ Australia retail sales rose by 1.4% month-over-month in October, posting the first increase in retail trade since July.
USD - BEARISH
1️⃣ Interest in safe heaven assets wained further on signs of progress in fiscal stimulus in US and hopes the COVID-19 vaccine can be deployed soon.
2️⃣ A worsening coronavirus pandemic and new lockdowns across the country raised concerns about the extent of economic pain before a vaccine is made available.
3️⃣ Low-interest rates and concerns about rising levels of debt in US are leaving room for further downside momentum.
=====
Technical
=====
We are buying the AUDUSD above the support of 0.74150 + above SMA 50 on the H1 chart.
The risk of the trade is the NFP report.
Trade active
Trade closed: stop reached:
❌ TRADE HAS HIT STOP LOSS
-25 PIPS
-25 PIPS