AUD/USD chart - Trading View
AUD/USD was trading 0.44% higher on the day at 0.7781 at around 10:35 GMT, slightly lower from session highs at 0.7796.
The Australian dollar was buoyed on upbeat economic data and rising commodity prices.
Data released earlier today showed the Australian Construction Output rose 2.4% in Q1, beating forecasts at 2.2%.
Meanwhile, the Westpac- Melbourne Institute Leading Economic Index grew at 0.2% in April, adding to the upbeat sentiment.
Further, rising commodity prices, which are an indication of a rebound in the economy, added to the optimism.
On the other side, U.S. dollar remains depressed as dovish Fed expectations keep the bulls from placing aggressive bets.
AUD/USD has been extending sideways along 55-EMA support. The pair is showing nascent signs of upside resumption.
Price action has edged above daily cloud and RSI has now turned north. Scope for test of 0.80 levels.


FxWirePro- Woodies pivot (Major)
FxWirePro: AUD/USD falls after softer-than-expected Australian Q2 CPI
EUR/JPY Holds Bullish Bias as Euro Extends Recovery
FxWirePro: EUR/ AUD gains some ground , but remains on bearish path
FxWirePro: GBP/NZD maintains bersish bias with focus on 2.2900 level
NZD/JPY Flatlines Near 94.60: Will Key Support Reignite the Uptrend?
FxWirePro: GBP/AUD gains some upside momentum but still bearish
FxWirePro: USD/CAD runs out of steam but maintains bullish outlook
Major Forex Pairs Action Bias: GBPUSD and AUDUSD Turn Extremely Bearish
FxWirePro- Major Pair levels and bias summary
FxWirePro: GBP/USD edges lower ahead of Fed policy verdict
FxWirePro: NZD/USD neutral in the near-term, scope for downward resumption
Crypto Action Bias: ETHUSD Stands Out as the Bullish Pair to Watch
FxWirePro- Woodies pivot (Major)
Buy the Dips on EUR/JPY: Bullish Structure Points to 188 Target Ahead of Fed
JPY Pairs Action Bias: EURJPY Leads as Bullish Standout Amid Mixed Momentum 



