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Instrument: AUDUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 0.72638 with take profit at 0.72769
Bearish Preference:
Sell position is envisaged if price trades below 0.72496 with take profit at 0.72371
Fundamentals:
No major fundamental
Comment: The US dollar climbed Friday as investors sought safe havens in fear of covid contagion. Additionally, Federal Reserve Governor Christopher Waller said the US central bank should speed up the pace of tapering to give more leeway to raise interest rates, Meanwhile, the Reserve Bank of Australia’s governor, Phillip Lowe, has summarised the Australian labour market, specifically with respect to wage inflation. ”The RBA’s take on the Australian labour market is crucial to explaining the relative dovishness of the RBA,” analysts at Rabobank explained.
Analysis: SCRUM Team
