Linear Regression Analysis

AUD/USD remains constructive after a sharp fall in the US Dollar following the US Treasury’s support signal for the long end of the bond market. The pair is consolidating above 0.7100, with technical traders watching 0.7130 as the immediate breakout area and 0.7153 as the next key resistance level.

AUD/USD remains supported after a sharp fall in the US dollar, with traders watching whether price can clear the 0.7130 area. The pair’s bullish structure is intact, although Australian labor market weakness may limit the Aussie’s relative appeal.