FxWirePro: AUD/USD clings to gains above 0.77 mark, Aussie benefits from upbeat Australian housing data and risk-on mood

AUD/USD chart - Trading View 

AUD/USD has eased slightly from session highs at 0.7719 and was trading 0.42% higher on the day at 0.7709 at around 05:40 GMT. 

The pair has held support at 21-EMA and has snapped 2-day bearish streak as aussie finds bids after upbeat Australian housing data.

Data released earlier today showed Australia’s ANZ Roy Morgan Weekly Consumer Confidence eases to 108.7 from 108.9.

Further, the HIA New Home Sales report for December 2020 showed New Home Sales reached remarkable heights in December. 

Sales during the December 2020 quarter were 48.7 percent higher than the September 2020 quarter and 99.5 percent higher than the same time the previous year.

Bulls remain cautious ahead of the key events in the US. Yellen’s speech in the US Senate will be closely watched ahead of Wednesday’s inaugural ceremony of Biden.

The ex-Fed Chair is up for her first Senate speech and her indirect support to Biden’s stimulus favors the risk-takers.

Australia employment data for December (due Thursday) will also be in focus for direction.

Technical bias remains bullish as long as pair holds above 21-EMA support. Resumption of upside eyes immediate resistance at 88.6% Fib at 0.7836.