- AUD / USD remains in a consolidation phase on Friday.
- The US dollar index is struggling to organize a convincing rally.
- Investors await data from the US MU Consumer Confidence Index.
The pair AUD/USD it rose for the third day in a row and posted the highest daily close since March at 0.7750 on Thursday. Although AUD / USD made a technical correction and fell to the 0.7720 zone during Asian trading hours on Friday, it had no difficulty erasing its losses and was last seen trading flat at 0.7752.
DXY remains bearish
Strong selling pressure surrounding the dollar and the risky positive market environment allowed AUD / USD to post strong gains in the second half of the week.
Pressured by the sharp drop seen in the 10-year US Treasury yield, the US dollar index (DXY) fell to its lowest level in nearly a month at 91.49 on Thursday. At the moment, the DXY is down 0.15% to 91.52. In addition, the major Wall Street indices rose on the release of strong data and allowed the risk-sensitive AUD to continue to find demand.
Retail sales in the US rose 9.8% on a monthly basis in March and initial jobless claims fell to the lowest level in nearly a year at 576,000.
Later in the session, data from the University of Michigan Consumer Sentiment Index, Housing Initiatives, and Building Permits will be included on the US economic agenda. Meanwhile, S&P 500 futures remain virtually flat. changes on the day, suggesting that market action is likely to remain subdued ahead of the weekend.
Technical levels
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