Market sentiment once again warmer, AUD/USD expand gains

On Tuesday (January 31), the Asian City’s early morning, the Australian dollar/dollar rose slightly, traded around 1.0610, the exchange rate is above the 20-day moving average and the short-term moving average indicators are bullish.

Earlier, Australia released data showing that in December, the NAB business climate index was +1, the same as before; December NAB business confidence index was +3, better than the previous value of +2; in December, the monthly rate of private corporate loans was +0.3%, and the annual rate was +3. 5%, both flat.

On the whole, Australia’s number was slightly better. After the data was released, the Australian dollar’s ​​buying increased, and the Australian dollar/dollar rebounded from around 1.0580 to above the 1.0600 mark.

Greek Prime Minister Papademos said that the debt negotiations with private creditors have made significant progress and that all Greek political parties are required to commit to the new plan. This weekend will complete negotiations with the three parties.

Under the optimistic view of the Greek Prime Minister’s prospects for the Greek debt negotiations and the overall upward trend of the Asia-Pacific stock index, market risk appetite was once again warmer, Australian dollar buying continued to increase, and the Australian dollar/US dollar extended gains and rebounded above 1.0620.

Technically, the daily chart of the Australian dollar/dollar is still in a rising channel. The exchange rate is glued to the 5-day moving average. The MACD red kinetic energy column is still in continuation. Immediately, the index is consolidating at a high level, focusing on the exchange rate at 1.0520. The stronger support lies in the 200-day moving average. (near 1.0410), rising target, looking at the previous high of 1.0687.

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