AUD/USD trades around 0.6550 on Tuesday at the time of writing, up 0.20% on the day. The pair benefits from a slightly stronger risk tone and a US Dollar (USD) weakened by rising expectations of additional monetary easing from the Federal Reserve (Fed).
AUD/USD bounced back towards 0.6500 after testing support near its 200-day moving average (0.6458). The global equity market correction is weighing on AUD. The RBA Minutes of the November 4 meeting highlighted scenarios that could guide future policy decisions.
The AUD/USD pair moves higher to near 0.6550 during the European trading session on Wednesday. The Aussie pair gains as the Australian Dollar (AUD) outperforms on hopes that the Reserve Bank of Australia (RBA) will maintain a restrictive monetary policy stance in its upcoming policy meetings.