AUDUSD Analysis:
AUDUSD has broken the bottom level of the uptrend line and now it’s came back to retest the broken level in the 4-hour timeframe chart.
After the confirmation of the downtrend, the AUDUSD sell signal is given.
AUDUSD has reached the take profit target successfully.
Australian Dollar
Australian Dollar weakens as the US Dollar becomes stronger after the US Senate passed the $1.9 trillion Package.
This week Westpac consumer confidence report expected in positive numbers and China economic Growth forecasted to 6% this year.
And Australian Dollar will be lower as Additional Stimulus is possible by the Reserve Bank of Australia (RBA). After a long rally from September month, the Australian Dollar makes lower.
US Dollar
US Dollar makes higher after US stimulus passed in Legislation of senate Approval. Now the bill will pass to the US House for another vote and Last to President Sign for completion.
US Stimulus bill of $1.9 Trillion passed in Senate is a big win for Biden Presidency, and Now US economy makes grow up in 2022-2023 after Successful Vaccination.
And FED makes Happy with this News because of Every FED Meeting Powell stated that the US economy is in more Caution condition if Stimulus not passed in the current situation. Other currency peers against US Dollar moves Down.
US Dollar rally continues as US Bonds yields rates higher.
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