AUD/USD has sensed a minor correction after a perpendicular recovery from 0.6720.
An improvement in investors’ risk appetite has underpinned the Australian Dollar.
The Aussie asset needs to surpass 0.6800 for an upside move ahead.
The AUD/USD pair has sensed a minor correction in the early Tokyo session after a perpendicular recovery from 0.6720. The Aussie asset is likely to extend its recovery to near the round-level resistance of 0.6800 as the risk appetite of the market participants has improved dramatically.
A stellar recovery in the S&P500 on Thursday as investors rushed for dip buying after a two-day sell-off underpinned risk-off mood. The US Dollar Index (DXY) dropped to near the lower end of the weekly trading range around 103.60.
On a four-hour scale, the Aussie asset is auctioning in a Rising Channel chart pattern, which is highly neutral as it has formed after…