The AUD/USD is taking a positive moment today as a response of easing in its COVID-19 lockdown restrictions and setting a precedent among other countries. Meanwhile, Australian stocks hit a record high on Tuesday, with mining and energy stocks rising on solid commodity prices, with OZ Minerals topping the gold release forecast on the benchmark. Prime Minister Daniel Andrews said the state of Victoria in Australia would begin easing its COVID-19 lockdown restrictions as planned from Tuesday night.

People can leave their homes for any reason, but there will be several restrictions, banning guests from homes and masks are mandatory indoors and outdoors, Andrews said in a statement. But a recent CNN article said that by comparison, locations across the United States and the United Kingdom are registering thousands of new cases every day by easing the restrictions.

Although the Australian strategy has helped to keep the case numbers and deaths very low compared to countries around the world, those outside. For more than a year, Australians have been confined to their gilded cages, which have relied on a series of short, sharp lockdowns.

On the other hand, it is worth noting that US President Joe Biden’s $ 1.2 trillion proposal on infrastructure spending and scepticism about the market’s cautious mood ahead of this week’s Federal Open Market Committee (FOMC) meeting has impacted the market. The greenback has been rampant for more than a month as markets alert as the central bank begins to cut its monetary support, and data shows that investors are now long dollars for the first time since March 2020. The focus is on debates on bond purchases and insights into the bank’s comfort with increasing inflation.

AUD/USD 4 Hour Chart:

Support: 0.7343 (S1), 0.7307 (S2), 0.7283 (S3).

Resistance: 0.7403 (R1), 0.7427 (R2), 0.7463 (R3).

Amidst all this catalysts, Australia keeps a new bias upon the easing lockdown. We expect bullish trend for AUD/USD.