AUD/USD refreshes session top, around mid-0.6700 amid a modest USD pullback
- The intraday slide finds decent support just ahead of the 0.6700 handle.
- The USD bulls seemed rather unimpressed by Friday’s US macro data.
- Trump’s latest criticism over the Fed’s policy stance remained supportive.
The AUD/USD pair built on its goodish intraday bounce and turned positive during the early North-American session, hitting fresh daily tops around the 0.6740 region in the last hour.
The pair extended this week's pullback and lost some additional ground on the last trading day of the week in reaction to disappointing Australian housing data, albeit managed to find decent support just ahead of the 0.6700 round figure mark.
USD retreats from multi-week tops
The uptick picked up some pace during the early North-American session following the release of unimpressive US macro data, which failed to assist the US Dollar to preserve its early gains to four-week tops - levels just above mid-98.00s.
The greenback was further weighed down by the US President Donald Trump's latest criticism about the Fed's monetary policy stance, which seemed to be one of the key factors behind the latest leg of a sudden rise of around 20-pips in the last hour.
It, however, remains to be seen if the pair is able to capitalize on the recovery move or meets with some fresh supply at higher levels amid persistent trade uncertainties, which tend to weigh on the China-proxy Aussie.
Technical levels to watch
Author
Haresh Menghani
FXStreet
Haresh Menghani is a detail-oriented professional with 10+ years of extensive experience in analysing the global financial markets.
