“RBA will maintain its expansionary settings until progress is being made towards full employment and we are confident that inflation will be sustainably within the 2–3 percent target band.” was said by RBA Governer Philp Lowe to the senate committee. His speech was optimistic that made Aussie to gain strength against USD.

He added that close coordination between monetary and fiscal policy has been there, and RBA processed the many billions of dollars in government assistance every segment from Household to Business. As per his words, the mid-March package worked as expected and is helping to create a bridge for recovery.

A bill levying sanctions to the Chinese diplomats involved in the Xinjiang case was passed by the US White House on Wednesday. Apart from this, China is also under one more threat as US Secretary of State Mike Pompeo announced on Wednesday that Hong Kong is no longer autonomous from China.

Amid hopes of economic restart and vaccine development for the virus has created positive sentiments for Aussie. Apart from this positive tone, US dollar weakness also plays a role in fueling the quote.

 AUD/USD 4 Hours chart:

Support:  0.6565(S1), 0.6510(S2), 0.6400(S3).

Resistance:  0.6675(R1), 0.6731(R2), 0.6841(R3).

The optimistic speech of RBA Governor and positive risk tone on economic restart creates an positive atmosphere for Aussie and we expect an bullish trend for AUD/USD.