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AUD/USD is lower on Thursday as US dollar strengthened on rate hike bets

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AUDUSD is lower on Thursday as US dollar strengthened on rate hike bets - forexspacex.com

The Australian dollar is trading lower on Thursday morning as investors continue to bet on rate hike expectations from US Federal Reserve. The US dollar index edged higher and received support from the rising US treasury yields as the demand for risky assets shows a sign of exhaustion. According to financial analysts, The AUD/USD is also experiencing profit-taking after two weeks of Relentless rally. The pair tested the major psychological resistance level at the 0.7200 mark this week but bears are not ready to give up this level. A sustained break above this level will signal a resumption of the uptrend.

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