AUD/USD chart - Trading View
AUD/USD was trading 0.13% higher on the day at 0.7628 at around 05:40 GMT, extends previous session's range trade.
Mostly welcoming recent Aussie trade data and upbeat market mood amid increased odds of the US fiscal stimulus keep the pair supported.
Australia's December Trade Balance grew past-5,022M figures to 6,785M whereas Exports again flash 3.0% rise. However, Imports dropped from +10.0% to -2.0% for the period.
Technical bias for the pair is mildly bearish. Stochs and RSI show bearish momentum. MACD also supports weakness.
The pair finds strong support at 50-DMA at 0.7601. Break below will find next major support at daily cloud. Breach at daily cloud will drag the pair lower.
Bounce off 50-DMA support and retrace above 21-EMA will negate any near term bearish bias.
Focus on RBA monetary policy statement, Australia Retail Sales and U.S. Non-farm Payrolls data for further impetus.
