Bank of Japan Signals Readiness for Near-Term Rate Hike as Inflation Nears Target 
ECB’s Cipollone Backs Digital Euro as Europe Pushes for Payment System Independence 
RBA Expected to Raise Interest Rates by 25 Basis Points in February, ANZ Forecast Says 
- The Aussie continued to add further gains and made new intraday high at $0.7218 levels.
- Pair is currently trading at $0.7207 levels, made intraday low at $0.7153 levels.
- On the other side, heavy USD sell-off across the board provided solid support for commodities.
- A daily close above $0.7214 is required to confirm the further bullish trend.
- On the top side resistance levels are seen at $0.7324 and $0.7385 levels.
- Alternatively, reversal from this level may drag the parity again below $0.7100 levels.
- Major support levels are seen at $0.7119 and $0.7050 levels.
- Tomorrow RBA will publish monetary policy statement and retail sales data. This will provide further direction to the parity.
We prefer to take long position in AUD/USD around $0.7150, stop loss $0.7050 and target $0.7325 levels.
