Greenback goes into consolidation following last Friday’s rally. Chinese premier Li says China can resist downwards pressure on the economy. After posting modest losses on Friday and closing flat on the weekly chart, the AUD/USD pair gained traction on Monday and was last seen trading near 0.7105, where it was up 0.32% on a daily basis. The improved market sentiment on Monday seems to be helping the risk-sensitive AUD gather some strength. Moreover, Chinese premier Li Keqiang earlier today said that China had the ability to resist downward pressure on the economy to provide additional support to the currency. There won’t be any significant macroeconomic data releases from Australia this week and the market’s risk perception and the USD’s performance are likely to impact the pair’s price action. Ahead of Chicago Fed’s National Activity Index and Dallas Fed’s Manufacturing Index, the US Dollar Index continues to fluctuate in a tight daily range a little above 96.50. Moreover, the RBA’s Assistant Governor Luci Ellis is scheduled to deliver a speech later in the day. Key technical levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/USD capped by strong resistance at 1.1330 Yohay Elam 4 years Greenback goes into consolidation following last Friday's rally. Chinese premier Li says China can resist downwards pressure on the economy. After posting modest losses on Friday and closing flat on the weekly chart, the AUD/USD pair gained traction on Monday and was last seen trading near 0.7105, where it was up 0.32% on a daily basis. The improved market sentiment on Monday seems to be helping the risk-sensitive AUD gather some strength. Moreover, Chinese premier Li Keqiang earlier today said that China had the ability to resist downward pressure on the economy to provide additional support to the currency. There… 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.
