AUD/USD remains mildly positive despite weaker than expected Aussie NAB Business Confidence/Conditions. Trade sentiment recently recovered on expectations of the US economic package. China’s inflation numbers will be in the spotlight, for now, whereas coronavirus headlines, US President Trump’s conference will be the key to follow. AUD/USD stays 0.02% positive while taking rounds to 0.6590 despite data from National Australia Bank (NAB) marked downbeat prints during Tuesday’s Asian session. The reason could be traced from the market’s risk reset following the heavily sold performance the previous day. Australia’s February month NAB Business Conditions and Business Confidence slipped below 3 and 0 forecasts to -4 and 0 respectively. Read: NAB business survey (Feb) falls well below concensus Even so, the Aussie remains mostly unaffected as the latest comments from the US signaled that the policymakers are preparing for the economic stimulus. Also increasing the trading sentiment were statements turning down the lack of testing kits in the US labs as well as no cancellations of the Tokyo Olympics. That said, the US 10-year treasury yields bounce back from the record low, flashed yesterday, to 0.63% whereas S&P 500 Futures gain 1.36% to 2,785 by the time of writing. Investors will now pay close attention to China’s inflation data for the immediate direction. However, updates concerning the virus will be the key while details of US President Donald Trump’s economic plan to counter COVID-19 will also be important to watch. Technical Analysis 10-day SMA near 0.6580 offers immediate key support ahead of 0.6500 round-figure. On the contrary, 21-day SMA near 0.6630 can limit the nearby upside of the pair. 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 Markets now see 73% probability of 75 bps Fed rate cut next week FX Street 3 years AUD/USD remains mildly positive despite weaker than expected Aussie NAB Business Confidence/Conditions. Trade sentiment recently recovered on expectations of the US economic package. China’s inflation numbers will be in the spotlight, for now, whereas coronavirus headlines, US President Trump’s conference will be the key to follow. AUD/USD stays 0.02% positive while taking rounds to 0.6590 despite data from National Australia Bank (NAB) marked downbeat prints during Tuesday’s Asian session. The reason could be traced from the market’s risk reset following the heavily sold performance the previous day. Australia’s February month NAB Business Conditions and Business Confidence slipped below 3 and… 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.