Australian Dollar bulls are attempting to restore the bullish trend

January 13, 2021 - 2 weeks ago
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At present, the Australian dollar is currently attempting to restore its bullish bias, as bears slowly emerge back on the greenback.

With little Australian economic data to offer, the market will now follow the technical assessment.

The recent break of US$0.7725 is expected to keep the call to a slow decline towards a potential target of US$0.7655-60, then to US$0.7570-75. Reassess from there.

However, a close above the resistance at US$0.7795 would negate the downside call and give a short-term neutral view.

Elsewhere, Vice President Mike Pence said Tuesday night he will not remove President Donald Trump from office, shortly before a House vote to call on him and the Cabinet to invoke the 25th Amendment.

The Democratic-held chamber will vote Tuesday night to call on the executive branch to push Trump out of the White House.

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