AUDUSD is still in the long-term uptrend channel.

AUDUSD is still in the long-term uptrend channel.

The Australian Dollar (AUDUSD) fell from the high of 0.7820 on January 6 to the low of 0.7659 on January 18. It rebounded in the past two trading days and returned to above the 0.7700 integer.

From the long-term trend and the FED Chairman Powell's dovish attitude, as well as the 1.9 trillion dollar stimulus plan of the new President Joe Biden, the long-term trend of the US Dollar Index is still downward, so the long-term trend of the AUDUSD is upward.

By technical analysis, the AUDUSD is still in the long-term uptrend channel, so it is recommended to Buy operations.

As shown in the figure: it can be buy now (entry market price around 0.7740), or price falling to above 0.7650 support.

Jan.20.2021
Reliability: 3-10 Market Days.