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AUD/USD rebounds as US dollar weakens after long-end bond buyback
AUD/USD was last around 0.7170 after reclaiming the 100-day SMA, while a break above 0.7149 would expose 0.7227 and 0.7300.
The Aussie dollar extended gains against the US dollar after the US Treasury Department announced a bond buyback focused on the long end of the Treasury curve, a move that weighed on the greenback and helped AUD/USD rise.
According to FXStreet, AUD/USD was trading near 0.7170 after rebounding from around 0.7067, with the pair indicating an uptrend resumed after reclaiming the 100-day simple moving average.
The setup also hinges on technical levels, FXStreet said, noting a bullish path if AUD/USD holds above a June 4 daily high at 0.7149, with the next upside supply zone seen near 0.7200.
On the downside, FXStreet flagged that a fall below 0.7100 could drive a move toward the 100-day SMA near 0.7069, with further support around the 50-day SMA near 0.6999.