AUD/USD Climbs to Session Tops

The AUD/USD pair surged during the Asian session and remained near the upper end of the daily range just below 0.7600.

After pulling back from week highs, the pair managed to regain positivity with support from the US dollar selling as additional stimulus progressed from the US.

the House of Representatives voted to increase the number of stimulus checks to qualified Americans from $ 600 to $ 2,000 on Monday.

The AUD / USD pair is now looking to build on momentum further after the 0.7600 marks, although weak volumes at the end of the year may prevent the bulls from placing strong bets. This makes it prudent to wait for some subsequent buying after the weekly highs, around the 0.7620-25 area, before taking positions on any further upside move.

There are no major market-movers economic data due for release on Tuesday. Thus, US stimulus headlines will play a major role in influencing the price dynamics of the US dollar.