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WikiFX Express

EUR's Weakness Added as Netherlands and Italy Plunged into Crisis

AUD/USD Forecast: Bulls reluctant to push it above the 0.7700 mark

WikiFX

| 2021-01-20 09:50

Abstract：AUD/USD Current Price: 0.7692 Australia will publish January Westpac Consumer Confidence, previously at 4.1%. Risk appetite gave up ahead of Wall Street’s close, providing support to USD. AUD/USD hovers around 0.7690 with a limited bullish potential.

The AUD/USD pair peaked at 0.7724 this Tuesday, retreating towards the 0.7690 price zone during the American afternoon, where it stands heading into the Asian opening. The pair traded on sentiment, easing at the end of the day as Wall Street eased from its intraday highs. So far this week, the pair has been incapable of attracting speculative interest but remains comfortable near multi-year highs.

Australia published at the beginning of the day December HIA New Home Sales, which improved to 32.5% MoM from 15.2% in the previous month. This Wednesday, the country will publish January Westpac Consumer Confidence, previously at 4.1%.

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AUDUSD;bullish