AUDUSD Analysis
AUDUSD is falling now after retesting the Neckline of the Head and Shoulder Pattern and the broken support zone acting now as new resistance.
After the confirmation of the Downtrend movement, the AUDUSD Sell signal is given.
AUDUSD reached the take profit target successfully.
US Dollar: Moderna Vaccination
Moderna Vaccine successfully destroys Delta variant Covid-19 and US Dollar moved up higher.
Once the pandemic gets under controlled by Moderna Vaccine in the US. Gold Prices will remain lower as US Dollar getting stronger.
And inflation data keeps higher makes the challenge for US Dollar and Supports for Yellow metal.
Moderna proves more effective in killing the power of Delta Variant type of Virus than other vaccines not effective as Moderna.
ADP employment data
Private sector jobs in the US shows ADP employment data this week most and it’s important to watch as decided for non-farm payrolls data forecast.
Previous ADP data shows a 978k rise in May and 600K Jobs expected this month.
Inflationary pressure slowing the demand for Workers and wage Growth rises as after the Covid-19 crisis. The rise in ADP data supports US Dollar and US Dollar remains in a strongly bullish view.
Australian Dollar: Delta Variant spreads in cities:
Delta Variant type of Covid-19 spreads across the Global level and Australia affected in more cities.
Due to this scenario, strict lockdown imposed in Sydney and more cities come in the lineup.
As Australian Health Advisor Bill Bow tell says shortening the timeline between the First and second dose of AstraZeneca shots. Bow tell adds Government makes missteps to secure vaccines and More cities will like to come under lockdown.
And US Health officials make orders for Los Angeles will start to wear masks mandatory as Delta variant spreads faster.
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