“¢  Surging copper prices underpin commodity-linked Aussie at the start of a new week.   “¢  Persistent USD selling provides an additional boost and remains supportive.   “¢  Technically remains poised to continue with the ongoing bullish momentum. The AUD/USD pair continued scaling higher through the early European session on Monday and rose to over three-week tops in the last hour. A sharp upsurge in copper prices, which tends to underpin demand for the commodity-linked Australian Dollar, helped the pair to catch strong bids at the start of a new trading week and build on last week’s goodish rebound from over two-year lows.  This coupled with persistent selling bias surrounding the US Dollar provided an additional boost and further collaborated to the pair’s upsurge to its highest level since mid-June. Despite Friday’s upbeat headline NFP print, s0fter wage growth data kept exerting downward pressure on the greenback and remained supportive of the strong bid tone.  Today’s upsurge could also be attributed to some follow-through technical buying, especially after Friday’s late bullish breakthrough a descending trend-channel resistance on the 4-hourly chart. Hence, an extension of the ongoing positive momentum, amid empty US economic docket, now looks a distinct possibility. Technical levels to watch Immediate resistance is pegged near the 0.7495-0.7500 region (50-day SMA), above which the pair is likely to head towards challenging the 0.7545-50 supply zone. On the flip side, mid-0.7400s now seems to protect the immediate downside, which if broken might prompt additional weakness towards the 0.7400 handle.  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 Litecoin price analysis: LTC/USD eyes $81.00 resistance, but the upside is limited FX Street 4 years   "¢  Surging copper prices underpin commodity-linked Aussie at the start of a new week.   "¢  Persistent USD selling provides an additional boost and remains supportive.   "¢  Technically remains poised to continue with the ongoing bullish momentum. The AUD/USD pair continued scaling higher through the early European session on Monday and rose to over three-week tops in the last hour. A sharp upsurge in copper prices, which tends to underpin demand for the commodity-linked Australian Dollar, helped the pair to catch strong bids at the start of a new trading week and build on last… Top 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.