AUD/USD hovers near 0.6600 as markets await Aussie’s Business, Consumer Confidence data
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The Australian Dollar (AUD) rose 0.42% against the US Dollar (USD) due to better sentiment and a dip in the USD. US inflation remains steady, and the positive economic outlook from the Federal Reserve influences currencies. Traders are awaiting the latest inflation report in the US and Australian consumer confidence data. The AUD/USD pair trades at 0.6604, virtually flat. Technical analysis suggests that if the pair surpasses the April 4 high of 0.6619, the next stop would be intermediate resistance at 0.634, followed by the March 21 high at 0.6667. The first support for AUD/USD would be the 100-day moving average at 0.6600.
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