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  • AUD/USD refreshes intraday high, attacks Monday’s peak, also the highest since January 27.
  • Australia’s NAB Business Conditions and Business Confidence data came in mixed for January.
  • Market sentiment wavers despite Japan’s stimulus, US covid relief optimism and trade jitters likely to recede.

AUD/USD rises to the fresh high of the day, currently around up 0.08% around 0.7715, during Tuesday’s Asian session. In doing so, the aussie pair buyers pay a little heed to the recently published Australian sentiment data from the National Australia Bank (NAB) for January.

Australia’s NAB Business Confidence grew past-4 prior and the forecast of 8 to mark 10 figures for January. However, the Business Conditions drop below market consensus of 11 and the previous readings of 14 to 7 for the stated month.

While ignoring the mixed data, AUD/USD seems to take clues from the trade-positive news. It should be noted that the recent comments from the Aussie Ambassador to the US, conveying push for a transatlantic deal, may have joined the EU-UK readiness to ease trade tension with American over the Aircraft subsidies to favor the risks off-late.

Also positive for the risks could be the latest update concerning US President Joe Biden’s $1.9 trillion covid relief stimulus. As per the recent news, shares via Reuters, US Democratic Party members of the Senate are clear to go ahead alone for the President’s stimulus plan.

Elsewhere, China’s arrest of the Aussie tv anchor and the US-Iran tension are some of the key developments that should challenge the risks but fail to do so recently.

Against this backdrop, stocks in the Asia-Pacific trade mixed while S&P 500 Futures stay mildly bid near the record top of 3,910.

Considering a lack of major data/events, AUD/USD traders should keep their eyes on the risk catalysts for fresh impulse.

Technical analysis

A clear break of 0.7645/40 resistance, now support, as well as 21-day SMA, favor AUD/USD bulls to attack a downward sloping trend line from January 14, currently around 0.7730.