AUDUSD rises on improved risk sentiment.
AUDUSD continues to rise on moderate USD bearishness as the markets are coming to the conclusion that Fed’s going to keep interest rates low for extended period of time – in spite of the inflation fears which have been circulating recently – which is underpinning this currency pair. On the other hand the traders continue to believe that the strengthening global recovery boosted by continued loose fiscal policies will remain supportive for higher commodity prices and therefore will lead to stronger Australian dollar in the near-term perspective.
Expect buyers on downward corrections.
Next resistance to watch – 0.7880
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