AUD/USD chart - Trading View
AUD/USD was trading 0.12% higher on the day at 0.7540 at around 05:00 GMT, after closing 0.02% lower in the previous session.
The Australian dollar opens the week’s trading with the gap-up open as markets cheer positive Brexit and vaccine-related news.
UK PM Boris Johnson and the European Commission President Ursula von der Leyen agreed to “go the extra mile” by continuing talks into this week.
Furthermore, the record high of iron ore contracts on the Dalian Commodity Exchange also favors the AUD/USD bulls. Iron ore recently crossed the $150 mark for the most active contract.
AUD/USD has largely ignored the 'Shooting Star' formation in the previous session and is extending marginal gains on the day.
Technical bias remains bullish and the pair is set to extend gains above 78.6% Fib. Next bull target lies at 110M EMA at 0.7696 ahead of 88.6% Fib at 0.7836.
