AUD/USD holds firm near a two-and-a-half-month high on Wednesday, supported by broad US Dollar (USD) weakness, while technical indicators point to further upside. At the time of writing, the pair trades around 0.7118, up 0.43% on the day, after reaching an intraday high of 0.7129.
The US Dollar Index (DXY), which gauges the Greenback’s value against a basket of six major currencies, trades near 98.90, down 0.75% on the day and touching its lowest level since May 29.
Strategists at Rabobank “continue to see scope for a shallow uptrend in AUD/USD into next year,” with the move higher expected to be “aided by November RBA rate hike risk” and…
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