It’s the second trading day when the AUD/USD currency pair is marking with the green candle label on the graph, with the cost of 0.7589.

The AUD/USD price is highly appreciated that it has been continuously rising day after day for more than a month. And now it has reached its optimal level where it was in June 2018.

Here there are several support levels as the backend of the price, which might give the security that the AUD/USD would not fall further, and these support levels stand behind the pair to lift it above the given cost as shown in the figure below.

Let’s talk about the AUD/USD recent rise, which might happen because of the update of US Non-Defense Capital Orders which was released yesterday by the US Census Bureau, according to the report, it remained 0.4% in November as compared to the month before the record of 1.6% in the month before.

The figures for the US Nondefense Capital Goods Orders reflect the cost of orders placed within the country with suppliers for the manufacture of durable goods which, are likely to have a minimum life of more than three years.

It is necessary to remember that to arrive at unbiased estimates, the statistic does not include aircraft costs. It is an important economic indicator since the cost of durable goods needs investment. In general, a lower reading for the US dollar is bearish but indicates a bullish AUD/USD market ahead and vice versa.

Conclusion

In the short to medium term, purchasing the AUDUSD pair at current levels could be a wise trading decision, considering the consistent bullish movements over the last ten trading days.