The AUD/USD currency pair begins the new day with the green candle label and a price of more than 0.7100. On the back of the pair’s price, the support levels may help keep the price around the current level.

Well, following the Omicron layer, the price has been in a constant state of insecurity, rising one day and falling the next. However, due to the lower high movement in the pair’s price on the downside, the technical bias may continue optimistic for a while.

Let’s take a look at the recent rise, which could be attributed to the positive results of the Australian TD Securities Inflation. FXStreet.com reports that In January, it was 0.4 percent higher than the previous month’s index of 0.2 percent.

The University of Melbourne’s Faculty of Economics and Commerce estimates inflation in the Australian economy with TD Securities Inflation. The greater the impact of increased inflation on the likelihood of a rate hike by the RBA, the more likely it is. In general, a high rating for the AUD is positive, or bullish, while a low score is negative, or bearish.

Conclusion

Because the market is in a bullish trend, short or medium-position traders benefit from the investment opportunity, and there is also hope that the AUD/USD currency pair’s volatility phase will soon finish.