AUD/USD moves higher but caution is needed
Hi everybody! The AUD/USD pair attracted some buying interest today for the second day in a row on Friday and climbed to a near two-week high. currently rallied beyond the mid-0.6400s following the release of upbeat China data.
However, you should still be cautious before buying while the story still supports rising US Treasury bond yields and supports the upward trend of the USD. This makes it even more prudent to wait for the next strong buying phase before confirming that the AUD/USD pair has formed a short-term bottom.
However, you should still be cautious before buying while the story still supports rising US Treasury bond yields and supports the upward trend of the USD. This makes it even more prudent to wait for the next strong buying phase before confirming that the AUD/USD pair has formed a short-term bottom.
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