AUDUSD - Long Pre Data Releases
We see AUDUSD moving higher whilst the currency pair is above support at 0.754 despite rising US Treasury yields as we await AU and US data released this week include AU PMI and US durable goods orders. Increased demand for commodities in particular from China as the global economy is expected to start recovering post the pandemic over the course of 2021 would provide further support for AUDUSD enabling it to continue it's long term uptrend.