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AUD / USD rises to a new five-day high above 0.7760

  • AUD / USD continues to rise in the American session.
  • The US dollar index extends the daily slide, falls below 90.00.
  • Focus shifts to Australian business sentiment data.

The pair AUD/USD it retained its bullish momentum in the first US session and hit a fresh five-day high of 0.7766. At time of writing, the pair was up 0.3% on the day at 0.7760.

USD remains under modest selling pressure

In the absence of important fundamental drivers and the release of high-level macroeconomic data, the dollar appears to be struggling to find demand. Although the US Dollar Index started the week with a bullish gap following aggressive comments from US Treasury Secretary Janet Yellen, it lost its traction and was last seen posting small daily gains at 89.98.

Meanwhile, the major Wall Street indices fell between 0.2% and 0.3% on Monday, helping the USD as a safe haven to limit its losses for the time being.

Earlier in the day, data from Australia showed that the AiG Service Performance Index improved slightly to 61.2 in May from 61 in April. Additionally, ANZ job postings increased to 7.9% from 4.7% in April. However, investors paid little or no attention to these figures.

On Tuesday, the HIA New Home Sales, Business Confidence and Business Conditions data from the National Australia Bank (NAB) will be featured on the economic calendar.

Technical levels

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