The AUD/USD pair regains positive traction on Friday and for now, seems to have stalled its modest retracement slide from the 0.6760 area, or over a one-month high touched earlier this week.
AUD/USD attracts some dip-buyers on Friday amid a modest USD weakness. The divergent Fed - RBA policy outlook offers additional support to the major. Bulls now await Fed Chair Jerome Powell’s speech before placing fresh bets. Spot prices stick to intraday gains through the first half of the European session and currently trade around the 0.6725 region, up 0.30% for the day.
6600 confluence – comprising 100- and 200-day Simple Moving Averages – and a subsequent strength beyond the 0.6700 mark was seen as a fresh trigger for bulls. Moreover, oscillators on the daily chart are holding comfortably in positive territory and are still away from being in the overbought zone.
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