AUD - BULLISH
1️⃣ Investors continue to retreat from the US Dollar as the Federal Reserve moves to pump more money into the economy, expanding both its bond-buying programme and ultra-cheap loans to banks.
2️⃣ The Australian economy advanced 3.3% qoq in Q3, posting the first quarterly expansion since Q4 of 2019.
USD - BEARISH
1️⃣ Low-interest rates and concerns about rising levels of debt have dented the dollar’s status as the preferred safe-haven.
2️⃣ A worsening coronavirus pandemic and new lockdowns across the country raised concerns about the extent of economic pain in the world’s largest economy before a vaccine is made available.
3️⃣ Hopes of extra fiscal stimulus have re-emerged along with further monetary easing from the Fed, leaving room for further downside momentum.
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Technical
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We are looking to buy the AUDUSD on the RBS + above SMA 50 on the H1 chart.
1️⃣ Investors continue to retreat from the US Dollar as the Federal Reserve moves to pump more money into the economy, expanding both its bond-buying programme and ultra-cheap loans to banks.
2️⃣ The Australian economy advanced 3.3% qoq in Q3, posting the first quarterly expansion since Q4 of 2019.
USD - BEARISH
1️⃣ Low-interest rates and concerns about rising levels of debt have dented the dollar’s status as the preferred safe-haven.
2️⃣ A worsening coronavirus pandemic and new lockdowns across the country raised concerns about the extent of economic pain in the world’s largest economy before a vaccine is made available.
3️⃣ Hopes of extra fiscal stimulus have re-emerged along with further monetary easing from the Fed, leaving room for further downside momentum.
=====
Technical
=====
We are looking to buy the AUDUSD on the RBS + above SMA 50 on the H1 chart.
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✅ TRADE HAS HIT TP
+25 PIPS
+25 PIPS