Despite the relentless rise in the treasury yields and the overbought conditions, the Aussie dollar closed above 0.80 yesterday - its highest close since September 19.
As of writing, the AUD/USD pair is trading at 0.8005 levels and the 10-year US Treasury yield is flatlined at 2.66 percent. Meanwhile, the 2-year yield is trading at 2.07 percent.
AUD/USD Technical Levels
Immediate resistance is pegged near the 0.8035 levels. A violation there would expose resistance at 0.8070 and 0.8100 levels. On the flip side, retracement back below the 0.80 handle, leading to a subsequent break under 0.7980 level (yesterday's lows), could accelerate the fall towards 0.7940 support en-route the 0.7900 round figure mark.