- AUD / USD is holding firm in hopes of US fiscal stimulus.
- The daily chart still shows signs of fatigue in the uptrend.
AUD / USD remains firm near recent highs, around the 0.7550 region, with investors celebrating the growing prospect of further fiscal stimulus in the United States.
Senate Democratic Leader Chuck Schumer has claimed that lawmakers are still talking about the coronavirus aid package and more talks are likely tonight (Tuesday ET). However, Schumer did not comment on how the talks were progressing.
Additionally, Senate Majority Leader Mitch McConnell told reporters earlier today that lawmakers have committed to reaching an agreement before the end of the year.
While hopes for stimulus have supported the riskier AUD, the AUD / USD has yet to invalidate uptrend fatigue, marked by the long upper wicks seen on the previous three daily candles moving above of 0.7578.
As long as that hurdle is intact, the immediate bias will remain neutral and the currency pair will be vulnerable to a pullback. Immediate support is seen at 0.7507 (Tuesday low), followed by the 10-day SMA at 0.7484.
AUD / USD daily chart
AUD / USD technical levels
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
