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The AUD/USD pair turned positive for the day after rebounding more than a hundred pips from four-day lows. The pair rose from near 0.6200 to 0.6333, hitting a fresh daily high on the back of a weaker dollar.
The US dollar pulled back across the board following a report mentioning a debate at the upcoming FOMC meeting on how to continue rising interest rates. The DXY moved off highs and trimmed daily gains.
The report also boosted equity prices in Wall Street, also helping commodity prices. The US dollar seems to lose momentum late on Friday after Wall Street Journal’s report. The AUD/USD pair rises from multi-day lows to 0.6330.
Despite the sharp moves in AUD/USD, it continues to move in ranges between 0.6340 and 0.6200. A firm break above 0.6350 should open the doors to more gains in the very short term.
