Looking at the chart of bullish scenarios in the weekly time frame, it’s still very likely. The store is closed during the year-end and New Year holidays, and is expected to continue next year. By setting the Fibonacci level, the AUD / USD pair is currently testing a level of 78.6% at 0.75750, and now we can expect integration at that level. If the AUD / USD pair is below 0.72500-0.73000 and below the MA200 moving average, we can see a bearish scenario.
In the daily time frame, we can see that the AUD / USD pair is still on the bullish side. Last week I pulled back to 0.74500 and tested the zone around 0.75000. The AUD / USD pair maintains good support from the bottom on a moving average. From the bottom, there is also a trend line and MA100 that are very popular.
With a four-hour time frame, there is one big upward parallel channel, but now the Australian dollar is weakening towards the end of the year and there is a recession in channel profits. The first obstacle to this is 0.75500. The first hurdle of the moving average is the MA50, but the MA100 was better supported in the previous period.
The US dollar rose further in early sessions, but reversed these interests after President Trump signed the US Omnibus Act and announced financial incentives and US government funding until 2021. Last week, Trump circumvented a partial government closure, although incentive checks increased, but were finally approved. This led to a dangerous mood wave of the Australian and New Zealand dollars, which rose more than 0.40%. However, keep in mind that while both are high beta, both markets are closed today and the rise may be as liquidity-related as the US stimulus package.
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December 28, 2020 AUD / USD Forecast
https://www.financebrokerage.com/aud-usd-forecast-for-december-28-2020/ December 28, 2020 AUD / USD Forecast