EUR - BULLISH 1️⃣ The dollar is pressured amid fiscal stimulus uncertainty, Sino-American tensions, and weak US data. 2️⃣ PMI data confirmed the Eurozone private sector activity grew in July by the most since June 2018 while the retail trade report showed the bloc's sales bounced back to pre-pandemic levels. 3️⃣ The euro enjoyed its best month in a decade during July supported by a massive relief package agreed by EU leaders and dollar weakness.
AUD - BEARISH 1️⃣ Australian Federal Treasury estimates that the national economy could contract by up to $9 billion(up to $12 billion including stage 3 restrictions) while the unemployment rate could peak closer to10% compared to 9.25% previously. 2️⃣ Aussie Health Minister defies calls of a study suggesting over 1,100 new virus cases.
===== Technical ===== 📊 We buy on RBS level + SMA50 area. 📊 EURAUD in bullish zone.