The dollar and yen ease lower amid the more positive market mood
AUD/USD is trading up 0.5% on the day now to session highs, climbing just above 0.7400 as buyers seize near-term control in the pair:
The push above the confluence of the key hourly moving averages @ 0.7385-94 now sees buyers establish a more bullish near-term bias and keeping above 0.7400 will reaffirm that sentiment towards the end of the week.
Equities are faring much better on the day with European indices keeping slightly higher while US futures are up 0.4% currently, exuding a more optimistic mood.
For AUD/USD, the latest shove higher keeps buyers poised to try and retest the highs last week around 0.7478 as the dollar struggles for traction today.
Elsewhere, NZD/USD is also up 0.6% to 0.7150 as buyers keep a defense of its 100-day moving average (red line) this week and are capitalising on that bounce to target last week’s high of 0.7170 at the moment.