US dollar bid picks up again. Eyes on AUD/USD

Risk trades bounced a bit after Europe went home but the selling is picking up again. That's given the dollar new life.

You can see the back and forth on the 15 minute AUD/USD chart.

AUD/USD is trading at 0.6710, which is just above yesterday's low and narrowly above last week's low of 0.6699. A break of that opens the way to the July low of 0.6682.

So as you can see, it's all hanging by a bit of a thread here with less than 30 pips separating 3 important levels. US yields are starting to creep higher as well so this could get ugly fast even though it's late in the day.

AUD AUD The Australian dollar (AUD) is the official currency of Australia, which is also used in Christmas Island, Cocos (Keeling) Islands, Norfolk Island, as well as independent pacific states.Introduced in 1966, the AUD is currently the fifth most traded currency in the world, behind only the US dollar, euro, Japanese yen, and British pound.The currency is very important to forex markets and is routinely used as a carry trade against other majors.The Reserve Bank of Australia (RBA) is the central bank The Australian dollar (AUD) is the official currency of Australia, which is also used in Christmas Island, Cocos (Keeling) Islands, Norfolk Island, as well as independent pacific states.Introduced in 1966, the AUD is currently the fifth most traded currency in the world, behind only the US dollar, euro, Japanese yen, and British pound.The currency is very important to forex markets and is routinely used as a carry trade against other majors.The Reserve Bank of Australia (RBA) is the central bank Read this Term