The Aussie is forming a stronger base firmly around 0.7750 vs its US counterpart and has bounced firmly against the Kiwi in the absence of many NZ participants due to the ANZAC market holiday.
Indeed, AUD/USD is back in the high 0.7790 area amidst a sharp rally in copper prices to decade highs on the LME and strength in iron ore alongside other Chinese metals overnight.
The dollar continues to flounder in broad terms, with the DXY unable to reclaim 91.000+ status where moving average levels lie in very close proximity (100 day and week at 91.024 and 91.056) between 90.894-679 extremes ahead of notoriously volatile US durable goods and a double dose of T-note supply (Usd 60 bn 2 year and Usd 61 bn 5 year sales coming up).
Indeed, AUD/USD is back in the high 0.7790 area amidst a sharp rally in copper prices to decade highs on the LME and strength in iron ore alongside other Chinese metals overnight.
The dollar continues to flounder in broad terms, with the DXY unable to reclaim 91.000+ status where moving average levels lie in very close proximity (100 day and week at 91.024 and 91.056) between 90.894-679 extremes ahead of notoriously volatile US durable goods and a double dose of T-note supply (Usd 60 bn 2 year and Usd 61 bn 5 year sales coming up).