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  • Aussie among biggest gainers on Wednesday, on the back of risk appetite.
  • AUD/USD heads for highest daily close since 2018. 

The AUD/USD pair rose further during the American session and climbed to 0.7685, the highest since April 2018. As of writing, it remains near the top, holding a strong bullish tone supported by risk appetite and a weak US dollar.

Wall Street up, DXY down

The Dow Jones is rising by 0.58% on Wednesdays, and the Nasdaq climbs 0.28%. Recent developments regarding the AstraZeneca/Oxford vaccine offset Senate Majority Leader Mitch McConnell’s rejection of the new coronavirus stimulus plan.

Main US stock indexes are heading toward another record close. Economic data from the US came in mixed and was mostly ignored by market participants. Home sales dropped 2.6% in November against expectations of a flat reading.

The risk-on environment is boosting commodity currencies. Among them, the Australian dollar is the top performer on Wednesday. AUD/NZD is back above 1.0650 while AUD/CAD trades around 0.9800, at the strongest level in two years.

Technical levels