AUD/USD crossed the 21-day moving average (MA) of 0.71 soon before press time and is currently trading at a session high of 0.7110.
The Aussie dollar is likely benefitting from the broad-based weakness in the US dollar, possibly triggered by the weakness in the treasury yields. Notably, the 10-year treasury yield fell four basis points on Friday and closed below 2.6 percent, signaling a continuation of the drop from the recent high of 2.77 percent.
As of writing, the yield is flat-lined around 2.6 percent and could fall further, as suggested by Friday's bearish close, on dovish Fed expectations.
Source : FXStreet