AUD/USD is up by over 1.3% on the day now
The march higher for the aussie against the dollar continues as we see AUD/USD climb to a high of 0.6755 currently, gaining by over 1.3% on the day.
This comes amid a break of the 200-day MA (blue line) with the aussie rallying after US president Trump went easy on China amid the Hong Kong issue at the end of last week.
Amid the technical breakout here and the fact that risk trades are continuing to look in better shape, a move towards 0.7000 isn’t that far out of the consideration at this stage.
Even the key risk barometer in the currencies space is also breaking out:
AUD/JPY is looking to break above its own 200-day MA (blue line) and that sets up further bullish momentum for the aussie and risk currencies in general.