AUD/USD Consolidates Wednesday’s Gains

Wednesday’s uptick in U.S. equity indices, aided by the positive developments via studies pointing to a lower hospitalisation threat re: omicron (when compared to the delta COVID strain) and positive treatment advances in the U.S., allowed AUD/USD to unwind its modest Asia-Pac downtick, printing as high as $0.7220 in what was a 1 big figure-wide session range. The cross currently deals little changed on the day, just shy of yesterday’s peak, with immediate resistance located overhead in the form of the 50-day EMA. A breach there would expose the former channel base drawn from the Aug 20 low. There isn’t much of note on the Asia-Pac docket, which will leave broader risk sentiment and Thursday’s U.S. data in the driving seat as markets thin out ahead of the Christmas holiday.