AUD – BULLISH
1️⃣ Risk sentiment was boosted after the International Monetary Fund predicted a swifter global economic recovery.
2️⃣ RBA also held the cash rate target at a record low 0.1%, kept the size of its A$200 billion bond-buying program Tuesday, signaling it is prepared to buy further bonds to help lower the jobless rate and spur wage growth. USD – BEARISH
1️⃣ The US dollar declined amid optimism over a stronger global growth and a dovish stance from the Fed. Last FOMC minutes showed the Federal Reserve would not taper anytime soon and downplayed inflation risks and high Treasury yields while seeing the economy strengthening. Meanwhile, the IMF raised global growth forecasts to 6% from 5.2% this year, citing additional fiscal support. =====
===== We are buying the AUDUSD at support + above SMA 50 on the H1 chart. =====
Risk to this trade
===== Any change in sentiment could turn the pair’s direction.