The Australian dollar (AUD) has risen against the US dollar for nine days in a row.

There are various support levels that stand behind the pair to elevate it above the given cost.

The US Dollar Index fell early Friday following two days of gains as markets remained unsettled as they assessed recent geopolitical developments.

To begin, the current rise in the AUD/USD could be attributed to the US Census Bureau’s update of US durable goods, which was released yesterday; it remained negative 2.2% in February, whereas economists expected a negative 0.5%.

Durable Goods Orders measure the cost of orders for durable products like cars and appliances. Durable products are affected by the US economy since they generally require large investments. The final graph shows the current state of US output.

And powerful FOMC members, including Fed Chair Jerome Powell, left the door open for a higher increase in borrowing prices.

Concerns that increasing crude oil prices will continue to push up consumer costs also boosted US Treasury bond yields. Because of this, there was considerable profit-taking on the Australian dollar, especially following the recent 350-plus pip bounce from the monthly low.

Conclusion

The AUD/USD pair is set to increase for a second week. Market participants now anticipate the next buying opportunity to maximize yield.