Australian Dollar Treads Water Below Multi-Week High
AUD/USD was little changed on Thursday, holding in the 0.7050 area below the multi-week high near 0.7091 reached on Wednesday.
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The Australian dollar was little changed against the US dollar on Thursday, with AUD/USD trading in the 0.7050 area. That leaves the pair below the multi-week high near 0.7091 set on Wednesday.
The currency pair held its ground after US data pointed to cooling price pressure. The softer inflation signal kept the US dollar from building momentum, supporting AUD/USD around recent levels.
The pair remains near the upper end of its recent range after Wednesday’s push higher, with the 0.7090 zone acting as near-term resistance.
Source: FXStreet Forex News