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AUD/USD chart - Trading View
AUD/USD was trading 0.51% higher on the day at 0.7618 at around 05:10 GMT, outlook is neutral.
The pair has bounced off 110-EMA support with a Doji formation on the previous session's candle.
Antipodeans remained buoyed as risk-on mood gains acceptance in Asia. Trades ignore China-UK tussle and fresh covid fears in Australia.
Vaccine optimism in the US and Canada as well as chatters surrounding the $3.0 trillion infrastructure spending plan from Biden keep sentiment buoyed.
Furthermore, the World Bank’s upbeat economic forecast for China and the rest of the Asia-Pacific region favor the risk-on mood.
Major technical bias for the pair is neutral, while minor trend is turning bullish as price pierces back into daily cloud.
| Support | 0.7572 (110-EMA) | 0.7417 (23.6% Fib) |
| Resistance | 0.7628 (5-DMA) | 0.7701 (200H MA) |
Summary: AUD/USD trades with a neutral bias for now. 5-DMA is immediate resistance at 0.7628, break above will see further gains. Cloud breakout will confirm bullish shift. On the flipside, breach at 110-EMA support will drag prices lower.
