AUD/USD surges amid risk appetite, DXY tumbles to the lowest level in a week. Optimism about a COVID-19 vaccine and US data fuels optimism. The AUD/USD pair rose from 0.6885 and spiked at 0.6943, the highest level since June 24. It then pulled back and it is hovering around 0.6910/15, up for the day and above the 0.6890 relevant support. A decline of the US dollar across the board triggered the rally in AUD/USD. The greenback weakened as equity prices in Wall Street jumped to fresh daily highs on reports about a coronavirus vaccine and better-than-expected US data. The ISM Manufacturing index came in at 52.6 in June, rising 9.5 points. Earlier the ADP report showed numbers slightly below expectations but the revision to May’s numbers were extremely positive. Later on Wednesday, the Federal Reserve will release the minutes of its latest meeting. The positive tone around equity prices eased after news reports on COVID cases in the US. The AUD/USD pulled back and the US Dollar Index (DXY) moved modestly off lows. Risk flows will likely continue to be the key driver for the pair. Technical levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next US ISM Manufacturing: Solid but orders are coming off a low base – Wells Fargo FX Street 2 years AUD/USD surges amid risk appetite, DXY tumbles to the lowest level in a week. Optimism about a COVID-19 vaccine and US data fuels optimism. The AUD/USD pair rose from 0.6885 and spiked at 0.6943, the highest level since June 24. It then pulled back and it is hovering around 0.6910/15, up for the day and above the 0.6890 relevant support. A decline of the US dollar across the board triggered the rally in AUD/USD. The greenback weakened as equity prices in Wall Street jumped to fresh daily highs on reports about a coronavirus vaccine and better-than-expected US data. The… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
