Burst in positive risk-sentiment sends AUD/USD through 0.69

• Risk sensitive FX pairs are on the move as stock climb quickly.
• AUD/USD is targeting higher levels as the pair breaks through 0.69.

AUD/USD 1-hour chart

AUD/USD has rushed higher during the US session on Monday after a WSJ note hit the markets. The article states that US President Trump could be looking to introduce return to work bonuses rather than sticking with unemployment benefits. At the same time, another Fed headline about corporate bond buying hit the newswires.

AUD/USD then proceeded to move past the 0.69 level it had been flirting with over the session. The price is also moving toward the 200 Simple Moving Average which could also be a resistance zone. 

Above the aforementioned levels, the psychological 0.70 area and the wave high of 0.7064 would be the targets for bulls but there needs to be enough momentum for that. Where the price is at the moment there has been some support and resistance in the past. 0.6915 has been used specifically back on 9th June.

Additional levels