The state of the Asian market: the US dollar is regaining positions

At the beginning of the day, the US dollar is trading with a strengthening against the basket of major world currencies. The growth of optimism in the US is caused by the optimism about the tax bill in the US, which is actively moving forward. Also, the market expects statistics on employment in the US before the publication of the Friday’s employment report.

Also, at the beginning of the day, the Australian currency was under pressure of the weak data on Australia’s trade balance. As a result, the pair AUD/USD appreciably weakened, coming very close to November’s low at 0.7520. The breakthrough of this level will open the way to more significant support 0.7480-60. An additional factor of decline in the pair AUD/USD is the formation of the “double top” figure on the timeframe H4.

For more information about the state of the market, see Expert Opinions.

AUD/USD H4. The current price is 0.7540.

Hanzenko Anton