“¢ The USD profit-taking slide remains unabated despite resurgent US bond yields. “¢ Positive commodities provide an additional boost to the commodity-linked Aussie. “¢ Technical factors remain supportive of the ongoing recovery from multi-month lows. The AUD/USD pair maintained its bid tone through the early North-American session and was now seen consolidating daily gains, just below session tops. The US Dollar extended its profit-taking slide from 11-month tops and failed to gain any respite from resurgent US Treasury bond yields, which was eventually seen driving the pair higher for the second consecutive session. This coupled with a positive trading sentiment around commodity prices, especially copper, provided an additional boost to the commodity-linked Australian Dollar and further collaborated to the pair’s ongoing rebound from YTD lows set yesterday. The pair easily surpassed the 0.7400 handle, taking along short-term trading stops, and hence, technical buying could also be one of the key factors supportive of the goodish pickup on the last trading day of the week. A relatively thin US economic docket, featuring the release of flash manufacturing and services PMI, seems unlikely to provide any meaningful impetus but might still assist traders to grab some short-term opportunities. Technical levels to watch Immediate resistance is pegged near the 0.7445-50 region, above which the pair is likely to aim towards reclaiming the key 0.7500 psychological mark. On the flip side, the 0.7400 handle now seems to protect the immediate downside, which if broken might turn the pair vulnerable to head back towards retesting multi-month lows support near the 0.7350-45 region before eventually dropping to test the 0.7300 round figure mark. 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 CAD backdrop is increasingly challenged – Westpac FX Street 5 years "¢ The USD profit-taking slide remains unabated despite resurgent US bond yields. "¢ Positive commodities provide an additional boost to the commodity-linked Aussie. "¢ Technical factors remain supportive of the ongoing recovery from multi-month lows. The AUD/USD pair maintained its bid tone through the early North-American session and was now seen consolidating daily gains, just below session tops. The US Dollar extended its profit-taking slide from 11-month tops and failed to gain any respite from resurgent US Treasury bond yields, which was eventually seen driving the pair higher for the second consecutive session. This… 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.