The AUD/USD closed the third straight day in the negative territory on Thursday and spent the Asian trading hours in a tight range near 0.7270. Ahead of the American session, however, the pair staged a modest rebound and touched a daily high of 0.7297. As of writing, AUD/USD was up 0.21% on the day at 0.7288.
In the absence of significant fundamental drivers, the recent recovery seems to be a technical reaction to the three-day-long decline. Furthermore, investors seem to be opting out to remain on the sidelines while waiting for key macroeconomic data releases from the US.


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