- AUD / USD is trading in positive territory on Tuesday.
- The general weakness of the USD allowed the AUD / USD to rise.
- The bullish market sentiment is providing additional momentum.
The pair AUD/USD it struggled to make a decisive move in either direction on Monday and closed flat. As risk flows remained in control of financial markets on Tuesday, the pair gained traction and was last seen trading at 0.7602, where it was up 0.33% on the day.
USD sell-off continues
The launch of the coronavirus vaccine, the EU-UK trade deal and the US COVID-19 emergency aid agreement allow the market mood to remain optimistic in the final week of 2020. On Monday, the major Wall Street indices soared to new all-time highs and are looking to extend Tuesday’s rally with S&P 500 futures rising 0.45% ahead of the opening bell.
On the other hand, the dollar remains on the defensive against its main rivals in the absence of important macroeconomic data releases and helps the AUD / USD to trade in positive territory. At the moment, the US Dollar Index is down 0.35% on the day at 90.03.
Weak trading conditions are expected to persist towards the end of the week and year-end flows could trigger strong fluctuations, which will likely remain short-lived.
Technical levels
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