AUD/USD hovers near 0.7220 amid a rebound in US Treasury yields

AUD/USD remains subdued on Tuesday in the early European trading hours.
The Australian dollar losses as an upsurge in the coronavirus delta variant continue.
An uptick in US Treasury yields underpins the demand for the US dollar.

Rekha Chauhan Independent Analyst

AUD/USD manages to trade higher on Tuesday morning. The pair extends the overnight session’s gain, although faces some pressure at the upper level.

At the time of writing, AUD/USD is trading at 0.7218, up 0.13% for the day.

The US Dollar Index (DXY), which tracks the performance of the greenback against its six major rivals rebounds from the lower levels amid higher US benchmark Treasury yields.

The greenback broadly remained higher following reports that the FDA has granted full permission of the two-dose Pfizer-BioNTech vaccine for COVID-19.

On the other hand, Aussie lost ground as investors assessed the impact of another fresh 750+ cases for Sydney and New South Wales.

In the latest development, Pfizer vaccine would be available for people in Victoria aged 16-39 from Wednesday.

The data released on Monday stated the Commonwealth Bank Services PMI and the Commonwealth Manufacturing PMI declined to 43.3 and 51.7, respectively, in August.

It is worth noting that S&P 500 Futures are trading at 4,437.50, up 0.01% for the day.

As for now, traders await the US Existing Home Sales data to trade fresh trading impetus.

AUD/USD additional levels

AUD/USD

Overview
Today last price	0.7217
Today Daily Change	0.0007
Today Daily Change %	0.10
Today daily open	0.721

Trends
Daily SMA20	0.7322
Daily SMA50	0.742
Daily SMA100	0.7578
Daily SMA200	0.7609

Levels
Previous Daily High	0.7219
Previous Daily Low	0.7119
Previous Weekly High	0.7373
Previous Weekly Low	0.7106
Previous Monthly High	0.7599
Previous Monthly Low	0.7288
Daily Fibonacci 38.2%	0.7181
Daily Fibonacci 61.8%	0.7157
Daily Pivot Point S1	0.7146
Daily Pivot Point S2	0.7083
Daily Pivot Point S3	0.7046
Daily Pivot Point R1	0.7246
Daily Pivot Point R2	0.7282
Daily Pivot Point R3	0.7346

Author

Rekha Chauhan

Independent Analyst

Rekha Chauhan has been working as a content writer and research analyst in the forex and equity market domain for over two years.

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