AUDUSD remains on the defensive below 100-day SMA/0.6700 amid modest USD strength – by hareshmenghani AUDUSD Fed Bonds RiskAppetite Currencies
pean session. The pair is currently trading around the 0.6685-0.6680 region, with bulls still awaiting a sustained strength beyond the 100-day SMA resistance.to gain some positive traction on the first day of a new week, which, in turn, is seen acting as a headwind for the AUDUSD pair. The US Treasury bond yields edge up in reaction to more hawkish remarks by Fed Governor Christopher Waller on Sunday.
Furthermore, the optimism over an eventual scaling back of COVID-19 measures in China offers support to the China-proxy Australian Dollar and limits losses for the AUDUSD pair. Hence, the subdued price move might be categorized as a bullish consolidation phase, suggesting that any corrective pullback might still be seen as a buying opportunity.
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