- It raises in the bags and slight retreat of the dollar drives the AUD / USD.
- Ahead: US service sector data and factory orders; and then RBA.
AUD / USD found support above 0.7600 and bounced to 0.7628, marking a new high for the day. The impulse came on the side of the rise in the stock markets and some weakness of the dollar. LThe price remains close to the highs with a bullish tone, although limited.
The advance of Treasury bond yields, with the 10-year rate at 1.73%, is supporting the dollar in the market. The greenback is with mixed results. The futures of the main Wall Street indices point to a positive opening with gains around 0.50%.
The expectation of the US economic recovery is being an important factor driving the rate hike. Today there will be data from the service sector and factory orders. On Tuesday a key event for the AUD / USD will be the meeting of the Reserve Bank of Australia.
Technically AUD / USD has a bullish bias in the very short term but faces significant resistance at 0.7630 / 35. A confirmation above would give the aussie more strength for a possible bullish extension. On the downside, the first relevant support is the band 0.7590 / 0.7600 and then 0.7565.
Technical levels
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