AUD/USD chart - Trading View
AUD/USD was trading 0.39% higher on the day at 0.7723 at around 02:45 GMT, extending previous session's gains.
The pair is extending gains for the 2nd straight session, finds strong support at 21-EMA.
The People´s Bank of China (PBoC) kept Interest Rate unchanged at policy meeting. Loan Prime Rate setting was unchanged with the 1-year at 3.85% and 5 year at 4.65% as expected.
Further, according to government statistics released earlier this week, China's economy expanded 2.3% yoy in 2020.
Markets focus on Biden’s inauguration speech after Treasury Secretary nominee Yellen called on for bigger fiscal stimulus.
Stimulus hopes keep risk buoyed and support risk assets. AUD/USD remains bid into the European session.
Major trend is bullish. Pullbacks in the pair have held above 21-EMA support raising scope for further upside. Next bull target lies at 0.7836 (88.6% Fib). Weakness only below 21-EMA.
