AUDUSD falls on surging dollar.
AUDUSD under the strong bearish pressure today as the U.S. dollar rose against most major currencies on Friday, lifted by an increase in U.S. bond yields overnight and the by the latest U.S. strike on Iran-backed militias in Syria. Bond yields have climbed this year amid continued ultra-easy monetary policy led by the United States. In recent days, a rise in inflation-adjusted bond yields has accelerated, indicating a growing belief that central banks may need to pare back their ultra-loose policies. This is driving dollar gains and is driving AUDUSD down. The pair is also dragged down by the Australian dollar bearishness as the result of the latest decline in the commodities prices worldwide.
Expect sellers on upward corrections.
Next support to watch – 0.7723
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