VOT Research Desk
In the early European session on Friday, the AUDUSD pair saw some buying at the 0.6580-0.6575 area, reaching its highest level since September 22.
The pair is now trading around the mid-0.6600s and continues to be well supported by the pervasive US Dollar selling bias.
This necessitates considerable caution before initiating new bullish wagers around the AUDUSD pair and preparing for any additional gains, at least for the time being, combined with the lack of any follow-through purchasing.
Traders are currently focusing on the US economic calendar, particularly the Preliminary Michigan US Consumer Sentiment Index report.
This will affect the dollar and give the AUDUSD pair some momentum, coupled with the US bond rates and the general risk mood.
|
Daily SMA20 |
0.6386 |
|
Daily SMA50 |
0.6504 |
|
Daily SMA100 |
0.6706 |
|
Daily SMA200 |
0.696 |
