AUD/USD gains on Monday amid better risk sentiment. Dismal data from Australia couldn’t hurt much. US Manufacturing PMI data can provide further stimulus to the market. The AUD/USD daily analysis reveals an interesting picture. The price of the pair has been rising today. The Australian Dollar has been so far the strongest currency of the day. The AUD/USD pair lost its traction on Friday and closed the week flat. After going higher during the Asian session on Monday, the pair remains supported by the upbeat market sentiment. The pair managed to bounce above the mid-0.7300 as the risk appetite soars. As of writing, the AUD/USD is trading at 0.7369 with daily gains of 0.35%. –Are you interested to learn more about automated forex trading? Check our detailed guide- Earlier today, the AiG performance manufacturing index fell to 60.8 in July, 63.2 in June. Commonwealth manufacturing PMI also fell to 56.9, which was 58.6 in June. Moreover, the ANZ job advertisement shrank by 0.5% after going up by 1.5% in June. China’s monetary policy stimulus, joined with America’s infrastructure bill, boosts the market’s mood, negatively impacting the US Dollar for being a safe haven. Despite the goodish rebound in Aussie, the bearish potential cannot be ignored as the coronavirus cases are emerging across the country, resulting in lockdown extensions. The US Dollar has modestly lost strength ahead of PMI data. The macroeconomic data releases could not trigger a market reaction. However, the positive shift in the risk sentiment supported the Aussie through the earlier New York session. The US Dollar index is maintaining minor losses on the day, pricing just under the 92.00 handle. Get FREE Forex Signals Now! The Reserve Bank of Australia will announce its monetary policy on Tuesday. Following July’s meeting of RBA, we know that the central bank is far away from the conditions of a rate hike. It is not likely to see a rate hike until 2023. On the other hand, we expect an extension of the QE program with a likely reduction in purchases. –Are you interested to learn more about forex trading apps? Check our detailed guide- AUD/USD technical analysis: Reversal or correction? The AUD/USD pair looks bullish on the day. However, the price remains capped by the congestion of 20 and 50 period SMAs on the 4-hour chart. The price is gradually moving within the uptrend channel. The 4-hour uptrend channel is a bearish flag pattern on the daily chart. The volume for today’s up wave is not quite encouraging. Hence, we expect the price to stay bullish only in the short term before resuming the broader downtrend. AUD/USD 4-hour chart analysis Looking to trade forex now? Invest at eToro! Trade Forex Now! 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Saqib Iqbal Saqib Iqbal Saqib Iqbal is a market analyst, prop fund trader and mentor, serving the industry with his analysis and educational content since 2011. The author has great exposure to different financial markets and institutions. He's well-known for his day trading reviews and multiple timeframe analysis. View All Post By Saqib Iqbal AUD/USD Daily Outlooks share Read Next Bitcoin Price Forecast: BTC Breaks Below $40,000 Ali B. 1 year AUD/USD gains on Monday amid better risk sentiment. Dismal data from Australia couldn't hurt much. US Manufacturing PMI data can provide further stimulus to the market. The AUD/USD daily analysis reveals an interesting picture. The price of the pair has been rising today. The Australian Dollar has been so far the strongest currency of the day. The AUD/USD pair lost its traction on Friday and closed the week flat. After going higher during the Asian session on Monday, the pair remains supported by the upbeat market sentiment. The pair managed to bounce above the mid-0.7300 as the risk appetite soars.… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.