The dollar climbed on Monday due to recent news supporting the greenback. As per the recent summary from the global rating giant Moody’s, US economic growth is likely to accelerate further and pose “the strongest two years of growth since 1950-1951 at the height of the post-World War II economic boom.”

The analysis expects 7.0% read GDP for 2021 and 5.0% for 2022 while citing a pick-up in inflation, tight labor markets and strong wage growth. Moody’s also expects the first rate hike from the Federal Open Market Committee (FOMC) to take place after 2023.

In a interview that was published late Sunday said that US Secretary of State Antony Blinken cites China’s military, economic, diplomatic capacity to undermine or challenge the rules-based order that the US “care so much about and are determined to defend.”

It has to be noted that the US diplomat didn’t want to trigger any geopolitical risks while saying, “I want to be very clear about something. And this is important. Our purpose is not to contain China, to hold it back, to keep it down. It is to uphold this rules-based order that China is posing a challenge to.”

On the other hand, Australian home prices posted another solid increase in April though the pace of ascent slowed a little as affordability became a bigger problem as houses moved beyond the reach of many buyers.

Data out on Monday showed national home prices climbed 1.8% in April, after a 2.8% jump in March that had been the largest gain in 32 years. Prices were up 7.8% on last year, and 6.8% in just the three months to April. Sydney prices raced up 2.4% in April, while Melbourne added 1.3%, Brisbane 1.7% and Perth 0.8%.

AUD/USD 4 Hour Chart:

Support: 0.7677 (S1), 0.7643 (S2), 0.7589 (S3).

Resistance: 0.7765 (R1), 0.7818 (R2), 0.7853 (R3).

Amidst all the catalysts favoring greenback over Aussie, we expect a bearish trend for AUD/USD.