AUD/USD chart - Trading View
AUD/USD is trading largely rangebound in the Asian session, with session high at 0.7978 and low at 0.7952.
The Australian dollar was unimpressed by upbeat Australian Q4 Private Capex data, AUD/USD consolidates previous session's gains.
Australia’s Q4 Private Capital Expenditure grew past-market forecast at 0.0% also reversed the previous -3.0% contraction with a +3.0% print.
The major is off the 36-month high, but technical outlook remains strongly bullish. Scope for further gains.
Also favoring upside in the pair is the risk-on mood that propels bond yields and equities and also rally in commodities space.
Apart from a slew of economic data for release later in the U.S. session, focus also on Friday’s House voting on the US covid stimulus package for impetus.
The pair is holding 4.29% gains for the month till date and is on track to test 200 month MA at 0.8254.
