The Australian dollar fluctuated in a narrow, upward range during the Asian session against the US dollar, following the developments and economic data that they followed on the Australian economy, which included the speech of Reserve Bank of Australia Governor Philip Lowe about innovation in the Australian payment system and amid the scarcity of economic data today, Monday, by the US economy. Economy in the world.
At exactly 03:58 am GMT, the Australian dollar against the US dollar rose by 0.01% to 0.7431 levels compared to opening levels at 0.7430, after the pair achieved its highest level during the session's trading at 0.7437, while the pair achieved the highest at 0.7421, with Knowing that the pair started trading on a rising gap after ending last week’s trading at 0.7425 levels.
We have followed up on the Australian economy the release of the services index reading by the Australian Industrial Group (AIG), which reflected an expansion to a value of 52.9 compared to 51.4 last October, and this came before we witnessed the Governor of the Central Bank of Australia Philip Lowe delivered a speech under the title " Innovation in the Australian Payments System "at a webinar hosted by the Australian Payments Network, leading to the disclosure of labor market data with the release of the employment advertisements index, which showed growth acceleration to 13.9% compared to 11.9% in October.
Technical analysis
The Australian dollar against the US dollar did not show any strong movement recently, to move within a narrow range, stabilizing above 0.7413, and therefore, there is no change to the bullish trend scenario that depends on stability above 0.7335, supported by the MA 50, with a reminder that our next target reaches 0.7530.
The expected trading range for today is between 0.7380 support and 0.7500 resistance
The expected general trend for today: Bullish.