AUD/USD chart - Trading View
AUD/USD was trading 0.32% higher on the day at 0.7784 at around 06:30 GMT, outlook bullish.
The pair has opened the week's trade on a bullish note and is on track to test 88.6% Fib at 0.7836.
Antipodeans cheer covid vaccine landing in Australia, and strength in the Chinese yuan adds to strong bullish bias.
Technicals continue to point north. Analysis of GMMA indicator shows strong bullish bias on the daily and weekly charts.
MACD shows a bullish crossover on signal line and positive DMI dominance adds to the bullish bias.
Momentum studies are strongly bullish. RSI shows strength above 60 mark. The pair is on track to test 88.6% Fib at 0.7836.
Focus on RBA meeting minutes due Tuesday for further impetus. The RBA minutes will provide more details on the policy direction following the strong dovish turn.
