 Tools for TradersTop Movers | Heat Map | Pivot Point | Pivot Meters | Action Bias | Volatility Charts Action InsightDaily Report: Australian Dollar Lifted by Risk Appetite and Steel Tariff Exemption Australian Dollar and New Zealand Dollar jump broadly as another week starts in full risk-on mode. Japanese Nikkei opened sharply higher and is trading up 1.4% at the time of writing. Hong Kong HSI is also up close to 1.5%. That followed the strong 1.77% rise in DOW on Friday on the job report that's "perfect for stocks". Aussie is additional supported as the country is exempted from US President Donald Turmp's steel and aluminum tariff. Meanwhile, sentiments are not so positive for the greenback as it's under broad based selling pressure. The markets might be a bit quiet today but a key focus will remain on 1.2268 minor support support in EUR/USD, which will determine the next near term move. Technical OutlookAUD/USD Daily Outlook Daily Pivots: (S1) 0.7797; (P) 0.7825; (R1) 0.7874; More... AUD/USD's rebound from 0.7712 extends to as high as 0.7866 so far today. As noted before, the break of f near term trend line resistance is taken as first sign of reversal. Intraday bias remains on the upside for 0.7892 minor resistance first. Break will affirm this bullish case and target 0.7988 and above. On the downside, below 0.7772 will turn bias to the downside for 0.7712. Break there will resume whole fall from 0.8135. Suggested ReadingsCan EUR/USD Recover Above 1.2370? Goldilocks Is Back At The Table The "Winners" and the Losers of a Potential Trade War Despite Speedbumps, Eurozone Expansion Continues Weekly Economic and Financial Commentary: February Hiring Heats Up, While Wages Cool Down The Weekly Bottom Line: All Signs Point to Higher Inflation Dollar Mixed Ahead of Retail Sales, Inflation and North Korea Meeting Week Ahead – US Inflation and Retail Sales in Focus; New Zealand GDP also Eyed Australia & New Zealand Weekly: Prospects for the Australian Economy; Markets; and Global Risks Economic Data
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