VOT Research Desk
The AUD/USD pair extends its upward trend for a third day in a row and keeps a bid tone into the middle of the European trading session.
The AUD/USD pair is seen as having support as a result of a number of factors pushing the US Dollar back toward the over five-month low it reached earlier this week.
The pair, however, is still below its highest level since September 13 touched earlier this week and is currently just a few pips below the 0.6800 round-figure mark.
The US Treasury bond yields are kept low by expectations that the Fed will slow the pace of its policy tightening and deliver a relatively smaller 50 bps rate hike in December.
This weakens the safe-haven greenback and helps the equity markets, along with a generally upbeat atmosphere.
|
Daily SMA20 |
0.672 |
|
Daily SMA50 |
0.6519 |
|
Daily SMA100 |
0.6682 |
|
Daily SMA200 |
0.6913 |
