Analysis Market overview

AUDUSD overview 08.01.2021

AUDUSD rises on improvement in risk sentiment.

AUDUSD under the bullish pressure today on the improved risk sentiment after the study by Pfizer and scientists from the University of Texas Medical Branch indicated the vaccine was effective in neutralizing virus with the N501Y mutation of the spike protein – the new highly contagious strain which is also called the «British Coronavirus». The study indicates that the vaccine is effective against even the mutated strains of the virus. The safe-haven outflows from US dollar after Joe Biden was proclaimed the elected president in Congress are also helping drive the gains of this currency pair. The markets are expecting US Nonfarm Payrolls (NFP) report later today. A stronger-than-expected NFP report could provide a boost to market sentiment – and drive the pair up.

Expect buyers on downward corrections.

Next resistance to watch – 0,7815

Trade with an award-winning STP broker! Lowest spreads on the market for Forex, Precious Metals, Energies, & Crypto. No re-quotes, no rejection of orders & instant withdrawals.

Share this on: