- AUD / USD is rising on Friday and continues to rebound after trading below 0.7700 on Thursday.
- Dollar weakness and rally in stocks helps AUD / USD ahead of key data.
After the sharp fall on Wednesday, AUD / USD bottomed out on Thursday at 0.7686, before beginning a bullish run, which just extended to 0.7751 on Friday. The pair remains in the zone of daily highs, ahead of key US data.
Dollar decline and optimism
The Widespread dollar weakness is helping AUD / USD stay afloat. The US Dollar Index (DXY) touched a six-day high at 90.90 on Wednesday, is shedding 0.3% on Friday and is trading at 90.40, the two-day low.
The combination of a pullback in Treasury yields and the rise in equity markets is playing against the dollar on Friday. April US retail sales data, industrial production figures and consumer confidence from the University of Michigan will be released today.
Technical levels
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