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AUDUSD overview 24.12.2020

AUDUSD rises on improved risk appetite.

AUDUSD under bullish pressure today – continuing the long-term uptrend – largely under the effect of the safe-haven outflows from US dollar as the UK and the European Union are seen to be close to striking a trade deal, raising hopes the United Kingdom can avoid a painful economic departure at the end of this year. Trade sensitive Aussie gains are in line with the wide-range sterling optimism which is evident through all gbp-linked currency pairs. The Brexit headlines overshadowed U.S. President Donald Trump’s demand for changes to a coronavirus aid bill – which indicates higher probability of reaching the Brexit deal and of further improvement in risk appetite – which is bullish for AUDUSD.

Expect buyers on downward corrections.

Next resistance to watch – 0.763

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