AUD/USD climbs to 0.7400 area as DXY slumps below 91.80
- AUD/USD continues to push higher in American session.
- Wall Street's main indexes trade in the positive territory.
- US Dollar Index falls to its lowest level since early September.
The AUD/USD pair preserved its bullish momentum during the American trading hours on Friday and touched its highest level in nearly three months at 0.7399. As of writing, the pair was up 0.43% on a daily basis at 0.7393.
USD continues to weaken against its rivals
For the majority of the day, the US Dollar Index (DXY) moved sideways near 92.00. With Wall Street's main indexes starting the last day of the week in the positive territory, the greenback came under renewed bearish pressure and the DXY dropped to its lowest level since early September.
At the moment, the DXY is losing 0.22% on the day at 91.78 and the S&P 500 Index gains 0.33%. Additionally, the Nasdaq Composite is trading at a fresh all-time high of 12,297, advancing 1.2%.
There won't be any macroeconomic data releases in the remainder of the day and the stock and bond markets in the US will close early in observance of the Thanksgiving holiday.
Technical levels to watch for
Author
Eren Sengezer
FXStreet
As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.
