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AUD/USD chart - Trading View
AUD/USD was trading 0.07% lower on the day at 0.7738 at around 05:40 GMT.
The pair is extending sideways grind along 55-EMA support, technical bias remains neutral.
The US dollar sees renewed buying interest, Biden's spending plans boost market optimism, fueling upside.
Biden's $6.0 trillion budget offer along with the Fed's rejection of tapering magnifies the risk-on mood across markets.
Upbeat Treasury yields help the DXY to remain firm. Victoria’s seven-day lockdown along with the US-China trade jitters exerting downside pressure on AUD/USD.
Also, China’s crackdown on commodities weighs on the iron ore prices and keeps the Australian dollar depressed.
Technical indicators do not provide a clear directional bias. Price action is within daily cloud. Breakout will provide clear direction.
