AUD/USD catches a bid on risk appetite
- AUD/USD lifts in Asia markets.
- Market sentiment driving pair as USD recedes.
AUD/USD has lifted in the Tokyo markets, currently trading just above 0.7860 heading into the London session.
The Aussie is picking up a boost in risk appetite that has seen the Dollar fall across the board. Markets have regained their composure and profit-taking has set in somewhat, temporarily halting the moves.
The AUD has little going for it these days, as the Australian economy continues to lag behind global growth trends, and the Reserve Bank of Australia (RBA) stuck in wait-and-see mode while central banks around the world prepare to begin lifting interest rates. Suppressed wage growth and unsustainable levels of household debt have crimped Australia's growth potential, and the RBA is widely expected to stand pat on interest rates well into 2020.
AUD/USD Technicals
February has seen the pair flatten out, trading near the 200-day SMA while H4 candles show the Aussie struggling to find momentum in either direction, trading back and forth according to risk appetite driving overall market sentiment. Intraday support can be found at 0.7829 and 0.7804, with resistance priced in at 0.7890 and 0.7956.