Instrument: AUDUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 0.73845 with take profit at 0.73954.
Bearish Preference:
Sell position is envisaged if price trades below 0.73553 with take profit at 0.73451.
Fundamentals:
None with high impact on the pair
Comment: The dollar rose to its highest in a week against peers on Wednesday, buoyed by higher Treasury yields and a weaker euro a day ahead of a European Central Bank policy decision. However, the surge in COVID-19 deaths in the United States could give the central bank pause. Reuters data shows that more than 20,800 people died from the virus in the past two weeks, up about two-thirds from the prior comparable period. President Joe Biden will outline a plan to tackle the highly contagious Delta variant on Thursday.
Analysis: SCRUM Team